April 6, 2023
Toyobo Co., Ltd.
Mitsubishi Corporation
Toyobo MC Corporation

Toyobo and MC Launch Operations at New Joint Venture Company- “Toyobo MC Corporation” to Specialize in Functional Materials -Toyobo Co., Ltd. (Toyobo) and Mitsubishi Corporation (MC) are pleased to announce that on April 1st, 2023, we
officially launched operations at our new joint venture company, Toyobo MC Corporation (Toyobo-MC), which will
specialize in the planning, development, manufacturing and sales of functional materials.
1. Background and Aims of New Joint Venture Company
With decarbonization, industrial restructuring, new technological advances and other developments radicallyreshaping the world of functional materials, Toyobo and MC reached an agreement on March 24th, 20221 to combine
our respective strengths and establish this new joint venture. Our aims through Toyobo-MC are to stimulate growth inour functional-materials businesses and to help create sustainable societies born of cross-industry innovation andevolution. To achieve those aims, our new company will combine Toyobo’s expertise in developing new products andtechnologies with MC’s broad industry know-how and management capabilities.
It has been just over a year since we announced our agreement, during which time we took a number of important
steps to prepare for Toyobo-MC’s official launch on April 1st, 2023. They included in-depth discussions on the company’smanagement policy and business strategies, the transfer to it of Toyobo’s existing functional-materials operations2, andthe issuance by MC of a third-party allotment of its shares.3■ Summary of New Joint Venture Company (as of April 1st, 2023)
Name

Toyobo MC Corporation

Address

Osaka Umeda Twin Towers South, 1-13-1, Umeda, Kita-ku, OsakaRepresentatives

President & CEO: Mr. Chikao Morishige (Representative Director and Co-COO, Toyobo Co., Ltd.)
Executive Vice President: Mr. Juro Baba (SVP, Mitsubishi Corporation)

Operations

Planning, development, manufacturing and sales of functional materials.

Capital15,100,000,000 yen

Launch Date

April 1, 2023

Shareholder
Ratio

Toyobo 51%, MC 49%

2. Future Initiatives
Toyobo-MC’s management team shall be led by Toyobo Representative Director and Co-COO, Mr. Chikao Morishige,and MC Senior Vice President, Mr. Juro Baba.4 Driven by its vision to address global challenges through advanced
functional materials, Toyobo-MC has made a commitment to ceaseless innovation. The new company shall endeavor tocreate new business models that extend beyond the functional-materials industry and seek out new alliances that are
equally dedicated to cross-industry growth and development.
Having already designated “Environmental Solutions” and “Mobility & Electronic Components” as growth fields,
Toyobo-MC is now conceiving a proactive strategy for capturing opportunities therein. In the former, Toyobo-MC plansto take advantage of MC’s customer-and-partner connections to globally develop Toyobo’s clean technologies, including
high-purity recovery devices designed to efficiently capture volatile organic compounds (VOCs) and other effluents fromthe manufacturing of lithium-ion battery separators, water-treatment membranes used for desalination and other global

water solutions, and some of the world’s most advanced ultra-high-strength (super) fibers. Toyobo-MC also plans toleverage MC’s resources in the mobility-and-electronics space, in this case by using the latter’s expertise and network in
the automotive industry, which extends to original equipment manufacturers (OEMs) and other end users. That work
will focus on advancing global sales and applications of Toyobo’s high-performance (engineering) plastics, adhesives andcoating materials, all of which are in greater demand nowadays due to the need to make automobiles lighter and more
electronically functional.
By executing this growth strategy, efficiently managing its portfolio, and shoring up its management foundations,
Toyobo-MC is confident that it can achieve sales targets of 145 billion yen and 250 billion yen by fiscal years 2025 and2030 respectively.
The ambitions of our new joint venture are to provide our customers with high value-added solutions, contribute tosustainable growth and innovation in the functional-materials industry, and help to realize carbon-neutral societies byaddressing industrial challenges.
■ For more information on Toyobo-MC’s management policy, please click here (link).
■ Examples of Toyobo-MC’s Major Products■ Toyobo
NameToyobo Co., Ltd.

Address

1-13-1, Umeda, Kita-ku, Osaka

Representative

Ikuo Takeuchi, President & Representative Director

OperationsFilms, Life Science, Functional Textiles and Trading, Environmental and Functional Materials

Date ofJune 1914

Establishment

■ MCName

Mitsubishi Corporation

Address

2-3-1 Marunouchi, Chiyoda-ku, Tokyo

Representative

Katsuya Nakanishi, President and Chief Executive OfficerOperations

MC engages in a wide range of businesses spanning multiple industries and overseen by its
Industry DX Group, Next-Generation Energy Business Group and 10 Business Groups: NaturalGas, Industrial Materials, Chemicals Solution, Mineral Resources, Industrial Infrastructure,
Automotive & Mobility, Food Industry, Consumer Industry, Power Solution, and UrbanDevelopment.

Date ofJuly, 1954 (Date Registered April, 1950)

Establishment※1：

Press release issued jointly by MC and Toyobo on March 24th, 2022 (link).

※2：

Disclosure by Toyobo on January 25th, 2023 (link).

※3：

Disclosure by Toyobo on March 17th, 2023 (link).

※4：

Press release issued by Toyobo-MC on April 3rd, 2023 (link)■Inquiry Recipient
Toyobo Co., Ltd.
Mitsubishi Corporation
Toyobo MC Corporation

Public Relations Group

TEL：＋81-6-6348-4210 E-mail : pr_g@toyobo.jp

Corporate Planning Division

TEL：+81-6-6348-3310 E-mail : info_tmc@toyobo-mc.jp

Corporate Communications Dept.,

TEL：+81-3-3210-2171 E-mail : ml.mcpr@mitsubishicorp.com