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JV UBE-Mitsubishi for Lithium-Ion Rechargeable Battery Electrolytes

Ube Industries, Ltd. (“Ube Industries”) today announced that it will establish a joint venture company (“new joint venture company”) by joint incorporation-type company split with Mitsubishi Chemical Corporation (“Mitsubishi Chemical”) to succeed the electrolyte business for lithium-ion rechargeable battery and other applications (“the business”) of both companies. Ube Industries and Mitsubishi Chemical (“the parties”) made the decision at each meeting of the Board of Directors and made an agreement of the joint venture. The details of the agreement are described below.

The reduction in the total assets of Ube Industries is expected to be less than 10% of the net assets on the final day of the previous fiscal year, and the reduction in net sales of Ube Industries is expected to be less than 3% of the net sales of the previous fiscal year. Consequently, some matters for disclosure and details about the joint incorporation-type split have been withheld.

1. Purpose of the Integration

The parties have been jointly operating the business in China through Changshu UM Battery Materials Co., Ltd. in the form of a joint venture since January 2018. The parties have now agreed to expand the tie-up to further enhance competitiveness in and outside of Japan in order to achieve the long-term development of the business. To this end, the parties will enhance product development capabilities through synergistic effects and strengthen the management base by streamlining purchasing, production, and sales systems. The parties will also integrate research and development and combine the intellectual assets and technical development capabilities possessed by the two companies. Specifically, the parties will establish the new joint venture company in Japan and transfer the assets of both companies related to the business, including manufacturing sites in Japan, to the new joint venture company. In addition, Changshu UM Battery Materials Co., Ltd. will be a wholly-owned subsidiary of the new joint venture company.

MC Ionic Solutions US, Inc. (Tennessee, United States) and MC Ionic Solutions UK, Ltd. (Durham, United Kingdom), which are wholly-owned subsidiaries of Mitsubishi Chemical, will be outside the scope of the integration.

More information in the following link to UBE Industries web page

https://www.ube-ind.co.jp/ube/en/news/2019/pdf/20200327_01_en.pdf

Se espera que la reducción en los activos totales de Ube Industries sea inferior al 10% de los activos netos en el último día del año fiscal anterior, y que la reducción en las ventas netas de Ube Industries sea inferior al 3% respecto al año fiscal anterior. En consecuencia, se han retenido algunos asuntos de divulgación y detalles sobre la constitución de la nueva empresa.

1. Propósito de la integración

Las partes han estado operando conjuntamente el negocio en China a través de Changshu UM Battery Materials Co., Ltd. en forma de empresa conjunta desde enero de 2018. Las partes ahora han acordado expandir sus vínculos para mejorar aún más la competitividad dentro y fuera de Japón para lograr el desarrollo a largo plazo del negocio. Con este fin, las partes mejorarán las capacidades de desarrollo de productos a través de efectos sinérgicos y fortalecerán la base de gestión al racionalizar los sistemas de compra, producción y ventas. Las partes también integrarán investigación y desarrollo y combinarán los activos intelectuales y las capacidades de desarrollo técnico que poseen las dos compañías. Específicamente, las partes establecerán la nueva empresa conjunta en Japón y transferirán los activos de ambas compañías relacionadas con el negocio, incluidos las plantas de fabricación en Japón, a la nueva empresa conjunta. Además, Changshu UM Battery Materials Co., Ltd. será una subsidiaria de propiedad total de la nueva empresa conjunta.

MC Ionic Solutions US, Inc. (Tennessee, Estados Unidos) y MC Ionic Solutions UK, Ltd. (Durham, Reino Unido), que son subsidiarias de Mitsubishi Chemical, estarán fuera del alcance de la integración.

Más información en:

https://www.ube-ind.co.jp/ube/en/news/2019/pdf/20200327_01_en.pdf

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