Mitsui Chemicals Concludes Business and Capital Alliance Agreement with Japan MDM & Notice of share acquisition
Mitsui Chemicals, Inc.
Mitsui Chemicals, Inc. (Tokyo: 4183; President & CEO: HASHIMOTO Osamu) is pleased to announce its conclusion of a business and capital alliance agreement with Japan Medical Dynamic Marketing, Inc. (Japan MDM; Shinjuku-ku, Tokyo; President: OKAWA Masao) on December 7, 2021. In conjunction with this deal, Mitsui Chemicals has agreed to acquire all the shares in Japan MDM held by its biggest shareholder, NGK Spark Plug Co., Ltd. (Nagoya, Aichi; President & COO: KAWAI Takeshi).
In its VISION 2030 Long-Term Business Plan announced this past June, Mitsui Chemicals declared to pursue growth via business portfolio transformation making Life & Healthcare Solutions as the major growth driver. In order to achieve this strategic intent, Mitsui Chemicals aspires to establish solution-based business models which resolve social challenges by incorporating service aspects to its current strength, high-performance material development & production. In an aging society, Mitsui Chemicals sees its key role to improve everyone’s quality of life through its medical device business.
Based on above mentioned policy, Mitsui Chemicals is stepping into orthopedic business aiming to provide solutions, leveraged by innovative services and products driven by the power of chemistry, for patients and medical care professionals. To this extent, the business and capital alliance with Japan MDM will be the great starting point for Mitsui Chemicals to achieve its goal in contributing to people’s better lives.
Details of the Business and Capital Alliances
(1) Business Alliance
Mitsui Chemicals and Japan MDM have agreed to pursue a partnership including the items listed below. Further details will be determined on the basis of discussions between the two companies.
- The effective use of the Mitsui Chemicals Group’s development and manufacturing capabilities in the healthcare field.
- The effective use of the Japan MDM Group’s medical product development capabilities and sales networks in the medical device field.
- The pursuit of possible cooperation between the two companies to facilitate business development and overseas business.
(2) Capital Alliance
Mitsui Chemicals will acquire all the shares of Japan MDM currently held by NGK Spark Plug, amounting to 7,942,764 shares (30.00% of the total number of the issued shares).
December 7, 2021
Conclusion of business and capital alliance agreement
between Mitsui Chemicals and Japan MDM
Conclusion of share transfer agreement between Mitsui Chemicals and NGK Spark Plug
January 7, 2022
Mitsui Chemicals’ acquisition of the shares from NGK Spark Plug is scheduled to be completed
Overview of Japan MDM
|Japan Medical Dynamic Marketing, Inc.
|Securities code and listing
|7600; 1st Section, Tokyo Stock Exchange
|President: OKAWA Masao
|May 28, 1973
|12-2 Ichigayadaimachi, Shinjuku-ku, Tokyo
|Importing and selling medical devices; developing and manufacturing medical devices
Marketing medical products to healthcare professionals and major hospitals across Japan