(RTTNews) - Mitsubishi Chemical Group Corporation (4188.T) announced that Mitsubishi Chemical Corporation, its subsidiary, has begun considering the spin-off of its basic chemicals business, which is primarily focused on petrochemicals, as a wholly owned subsidiary. The company targets to implement the spin-off by the end of the fiscal year ending March 31, 2028.
Mitsubishi Chemical Group said it will aim to enhance business competitiveness through mergers and industry-wide restructuring, leading the structural transformation of the chemical industry towards decarbonization and circularity.
Mitsubishi Chemical Group shares are trading at 1,090 yen, up 6.03%.
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