Ube Industries, Ltd., JSR Corporation, and Mitsubishi Chemical Corporation collaborated to form a new company for the integration of the ABS resin businesses of their respective subsidiaries on March 30, 2017. Techno Polymer Co., Ltd., the integrated company is a wholly-owned subsidiary of JSR, and UMG ABS, Ltd. is equally owned by Ube Industries (50%) and Mitsubishi Chemical (50%). Techno Polymer and UMG ABS are jointly operating the newly formed integrated company, which was to take the form of an absorption-type split, wherein UMG ABS will operate as the absorbed company and Techno-Polymer as the successor company. Although the start of the integrated c absorption-type split company was scheduled on October 1, 2017, but was delayed due to procedural time in completing the legal formalities applicable in relevant countries.
Having completed the procedures stipulated in the competition laws, other laws and regulations applicable in relevant countries, the new company will start on April 1, 2018, in the name of Techno-UMG Co., Ltd. located at Minato-ku, Tokyo. The new company will carry the business of manufacturing, processing, sales, and R&D for styrene resins including ABS, AS, AES, ASA, and other polymer alloys. The new company will have Capital Stock of ¥3,000,000,000. The fiscal year of the company will end on March 31. JSR will hold 51%shares whereas UMG ABS* will be having 49% shares.
Ube Industries, Ltd. is represented by Yuzuru Yamamoto, President, and Representative Director. The shares of Ube Industries Limited will be listed on First Section of Tokyo Stock Exchange and Fukuoka Stock Exchange. JSR Corporation will be represented by Mitsunobu Koshiba, Representative Director, and President. Shares of JSR Corporation will be listed on First Section of Tokyo Stock Exchange.