JNC Corporation (Head Office: Chiyoda-ku, Tokyo, President: Keizo Yamada, hereinafter "JNC") announced to acquire 50.0% shares held by Mitsubishi Gas Chemical Company, Inc. (Head Office: Chiyoda-ku, Tokyo, President: Masashi Fujii) in CG Ester Corporation (Head Office: Chuo-ku, Tokyo, President & CEO: Hitoshi Sekiguchi, hereinafter "CGE"), an affiliate of JNC, making it a wholly owned subsidiary.
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After being wholly owned by JNC, CGE will cease manufacturing at CGE Mizushima Plant by March 2025. CGE will then take over the manufacturing facility at Ichihara Factory held by JNC Petrochemical Corporation, and also operate its own facility located in the Ichihara Factory. This will help CGE enhance its competitiveness with streamlined operation and continue stable supply of products.
JNC Group has positioned plasticizers as its core of OXO business, and will promote the enhancement of integrated management by making CGE its wholly owned subsidiary.
[Company Profile of CG Ester Corporation] (Headquarters) 2-16-13, Nihombashi, Chuo-ku, Tokyo (Representative) Hitoshi Sekiguchi (Capital) 450 million yen (Sales) 17,823 million yen (fiscal year ended March 2023) (Business outline) Manufacturing and sales of plasticizers (Effective date of share transfer) March 29, 2024 (scheduled)
[Contact Information ] JNC Corporation, General Affairs Department TEL: 03-3243-6370,E-mail: kouhou@jnc-corp.co.jp URL: https://www.jnc-corp.co.jp/english/
CG Ester Corporation, Administration Division TEL: 03-5203-2860,E-mail: toiawase@cgester.co.jp URL: https://www.cgester.co.jp/en/