MMA Monomer Manufacturing Tie Dissolved

Kuraray Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President: Yasuaki Wakui; below, "Kuraray") and Mitsui Chemicals, Inc. (Headquarters: Minato-ku, Tokyo; President: Kenji Fujiyoshi; below, "Mitsui Chemicals") agreed on July 15 to terminate their relationship with regard to Kyodo Monomer Co., Ltd. (below, "Kyodo Monomer"). Kyodo Monomer was established through a fifty-fifty joint venture of Kuraray and Mitsui Chemicals, to manufacture methyl methacrylate (MMA) monomer, a raw material for the production of methacrylic resin(*1). Kuraray will transfer to Mitsui Chemicals its entire stock holding in Kyodo Monomer, which will become a wholly owned subsidiary of Mitsui Chemicals.

*1

Highly transparent, light in weight, and strong, methacrylic resin is widely used in LCD light guides and other optical products, as well as in auto parts and a number of other applications.

Background

In 1988, Mitsui Toatsu Chemicals, Inc.(*2) and Kyodo Gas Chemical Co., Ltd.(*3) and established Kyodo Monomer as an equally funded joint venture. Kyodo Monomer commenced operations in 1991, and produced MMA monomer for the next 14 years.

*2 Mitsui Toatsu Chemicals, Inc.

In 1997 Mitsui Toatsu Chemicals, Inc. merged with Mitsui Petrochemical Industries, Ltd. to become Mitsui Chemicals, Inc.

*3 Kyodo Gas Chemical Co., Ltd.

Kyodo Gas Chemical Co., Ltd. merged with Kuraray Co., Ltd. in 1989.

Date of stock transfer to Mitsui Chemicals

September 30, 2005

Additional Information : Kyodo Monomer Co., Ltd. (Data as of July 15, 2005)

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