Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Tokyo  >  Mitsui Chemicals, Inc.    4183   JP3888300005

SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Mitsui Chemicals, Inc. : Mitsui Chemicals Decides to Withdraw from Keiyo Ethylene Co., Ltd.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/01/2013 | 07:40am CEST

Mitsui Chemicals, Inc. (Head Office: Tokyo, Japan; President & CEO: Toshikazu Tanaka) announced that it will withdraw from business operations of Keiyo Ethylene Co., Ltd. ("KEC"), a joint venture with Maruzen Petrochemical Co., Ltd. and Sumitomo Chemical Co., Ltd.

Mitsui Chemicals commenced equity participation (22.5%) in KEC in December 1995 as part of an effort to reinforce domestic olefin supply infrastructures through strengthening global competitiveness and operative scales. However, recent changes in the global ethylene market, such as improvement in supplies from new large-scale plants in the Middle East and China, and forecasted production increases from shale gas in the United States, has resulted in an urgent need to fundamentally restructure and reform domestic petrochemical business for industry sustainability.

Against this backdrop, ethylene production surplus is expected at facilities in the Ichihara (Chiba, Japan) area, where the country's ethylene plants are concentrated, and domestic production is expected to fall below 6 million tons a year. Mitsui Chemicals undertook ongoing studies of operations including continued participation in KEC with the two partners and their possible participation in the Ichihara ethylene center of Chiba Chemicals Manufacturing LLP (Limited Liability Partnership), an operative by Mitsui Chemicals and Idemitsu Kosan Co., Ltd.

Based on these studies, the three companies ---- Mitsui Chemicals, Maruzen Petrochemical, and Sumitomo Chemical ---- reached an agreement in which Mitsui Chemicals will withdraw from KEC by the end of fiscal 2014. The three companies will continue to discuss practical aspects and details of the withdrawal.

Mitsui Chemicals will further strengthen participation in the Chiba Chemicals Manufacturing LLP, as one of the Company's many efforts to restructure its petrochemical business, which includes products such as ethylene through to derivatives, and thereby sharpen its global competitive edge.

Mitsui Chemicals Decides to Withdraw from Keiyo Ethylene Co., Ltd. (PDF:29KB)

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on MITSUI CHEMICALS, INC.
08/17 MITSUI CHEMICALS : "Polymeric Piezoelectric Film" in Patent Application Approval..
08/10 MITSUI CHEMICALS : Patent Application Titled "External Wound-Healing Agent, and ..
07/31 MITSUI CHEMICALS : SDC launches ClearChoiceâ„¢ Interactive Product Selector..
07/28 MITSUI CHEMICALS : SDC launches ClearChoice Interactive Product Selector Guide
07/26 MITSUI CHEMICALS : Web Accepting Applications for 2018 Mitsui Chemicals Catalysi..
07/26 MITSUI CHEMICALS : Starts Accepting Applications on September 1st for 2018 Mitsu..
07/25 MITSUI CHEMICALS : Start-up PP Compounds Capacity Augmented in North America and..
07/13 MITSUI CHEMICALS : Patent Application Titled "Dental Polymerizable Monomer Compo..
07/06 MITSUI CHEMICALS : "Dental Polymerizable Monomers" in Patent Application Approva..
07/06 MITSUI CHEMICALS : Patent Issued for Electrically Conductive Lens Connection and..
More news
News from SeekingAlpha
05/31 Mitsui Chemicals (MITUF) CEO Explanation Business Results & Outlook - Slidesh..
Financials ( JPY)
Sales 2018 1 288 967 M
EBIT 2018 -
Net income 2018 65 878 M
Debt 2018 334 874 M
Yield 2018 2,58%
P/E ratio 2018 9,76
P/E ratio 2019 9,56
EV / Sales 2018 0,77x
EV / Sales 2019 0,75x
Capitalization 662 433 M
Chart MITSUI CHEMICALS, INC.
Duration : Period :
Mitsui Chemicals, Inc. Technical Analysis Chart | 4183 | JP3888300005 | 4-Traders
Technical analysis trends MITSUI CHEMICALS, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 687  JPY
Spread / Average Target 6,1%
EPS Revisions
Managers
NameTitle
Tsutomu Tannowa Executive President & Representative Director
Yoshito Ito IR Contact, Head-Finance & Accounting
Shigeru Isayama Director, Head-Research & Development
Hideki Matsuo Director & Managing Executive Officer
Masaharu Kubo Director, Head-Accounting & Legal Affairs
Sector and Competitors
1st jan.Capitalization (M$)
MITSUI CHEMICALS, INC.24.90%6 051
AIR LIQUIDE-2.98%47 410
PRAXAIR, INC.11.96%37 970
SHIN-ETSU CHEMICAL CO LTD5.07%37 578
LYONDELLBASELL INDUSTRIES NV3.49%35 136
AIR PRODUCTS & CHEMICALS, INC.0.92%31 811