LONDON--(BUSINESS WIRE)- Mitsui & Co., Ltd. ("Mitsui," Head office: Tokyo, President and CEO: Masami Iijima) has decided to acquire a 100% stake in MBS Co., Ltd. (“MBS,” Head office: Tokyo, President & CEO, Hiroshi Tsunekawa), a wholly owned subsidiary of Mercian Corporation (“Mercian,” Head office: Tokyo, President & CEO, Toru Suzuki), that will succeed Mercian’s pharmaceutical and chemical businesses by demerger (absorption-type split), and today Mitsui and Mercian entered into a share transfer agreement in relation to this acquisition.
In the medical and healthcare business area as one of Mitsui’s core business area, Mitsui has already developed a variety of businesses in both pharmaceutical business (including supporting pharmaceutical manufacturing, distribution and sales) and healthcare services business (including supporting operation and management of hospitals and clinics, and healthcare-related information services). Specifically, Mitsui has over 40 years’ business experience in pharmaceutical contract manufacturing organization (CMO) business, and has built up relationships with pharmaceutical companies both within Japan and overseas through the supply of raw materials.
Mercian has pharmaceutical business, such as manufacture, contract manufacturing and sales of pharmaceutical ingredients and intermediates, and also has chemical business, such as manufacture and sales of food additives and industrial chemicals, by applying its unique manufacturing technologies and know-how combined with biotechnology and fermentation technology. In China, Mercian engages in manufacture and sales of anti-cancer agents through its affiliated company, Shenzhen Main Luck Pharmaceuticals Inc.
Mitsui, through MBS as a core company in its pharmaceutical CMO business, will strive to strengthen its CMO business by utilizing MBS’s unique manufacturing technologies, know-how and development capabilities. Mitsui will also strive to increase the corporate value of MBS by expanding sales of MBS’s leading products (anti-cancer agents) through Mitsui’s global network, strengthening and developing MBS’s manufacturing technologies by combining new technologies from other CMO companies, and introducing new pharmaceutical products and supplying raw materials to Shenzhen Main Luck Pharmaceuticals Inc. Moreover, Mitsui plans to expand its pharmaceutical business in China through Shenzhen Main Luck Pharmaceuticals Inc., which possesses business bases throughout China.
Mitsui plans to change the corporate name of MBS to MicroBiopharm Japan Co., Ltd. (provisional name) upon completion of this acquisition.
Mitsui is currently analyzing the impact of this acquisition on Mitsui’s consolidated financial results in the fiscal year ending March 31, 2012.
For further information, please contact:
Mitsui & Co., Ltd.
Investor Relations Division Corporate Communications Division
Telephone: +81-3-3285-7910 Telephone: +81-3-3285-6645
Notice: This press release includes forward-looking statements about Mitsui. These forward-looking statements are based on the current assumptions and beliefs of Mitsui in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. The risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui’s latest annual report on Form 20-F, which has been filed with the U.S. Securities and Exchange Commission.
This press release is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.
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Short Name: Mitsui & Co., Ltd.
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Time of Receipt (offset from UTC): 20110425T095834+0100
Mitsui & Co Ltd