August 25, 2022
To whom it may concern,
Name of company:

Toyobo Co., Ltd.

Name of representative: Ikuo Takeuchi,President & Representative Director(Stock code: 3101, Prime Market, Tokyo Stock Exchange)
Contact:

Katsuhiro Iwai, General Manager,
New JV Preparatory Office(TEL +81-6-6348-3054)

Regarding changes in the schedules of a company split involving the functional materials-related businessand establishment of a joint venture as well as decisions on the new (succeeding) company’s name and othermatters related to its establishment
As announced in a document released on March 24, 2022, titled “Regarding a company split involving thefunctional materials-related business (simple absorption-type split) and establishment of a joint venture with
Mitsubishi Corporation”, Toyobo Co., Ltd. has signed an agreement with Mitsubishi Corporation (“MC” hereafter)to establish a new company (“the New Company” hereafter). Under the agreement, the New Company, which aims
to sharpen the competitive edge of Toyobo’s functional materials and continue to globally provide solutions, will beestablished by splitting part of Toyobo’s businesses (“the Company Split” hereafter) and with an investment fromMC (“the Investment” hereafter). The two parties have since continued talks on how to implement the CompanySplit and the Investment. MC is headquartered in Chiyoda Ward, Tokyo, and is headed by President and CEO
Katsuya Nakanishi.
At its meeting held today, Toyobo’s board of directors decided on changes in the schedules of procedures
leading to the Company Split and the establishment of the new joint venture as well as the company name of theNew Company and other matters related to its establishment, as follows:
1. Start of the Company Split and launch of the joint venture(1) Changes in the schedules of procedures regarding the Company Split and the joint venture
The board of directors decided to change the schedules of procedures regarding the Company Split and the jointventure as follows:a) Schedule of the Company Split
Before change

After change

A board of directors meeting toapprove the agreement on theabsorption-type company split

Scheduled for November 2022

Scheduled for January 25, 2023

Date of sealing the agreement on
the absorption-type company split

Scheduled for November 2022

Scheduled for January 25, 2023

Effective date of the Company Split Scheduled for January 2023

April 1, 2023

These procedures and schedules are subject to change depending on how talks between the parties proceed.
1b) Schedule regarding the joint venture
Before change

After change

Date of sealing the shareholders’agreement

Scheduled for January 2023

April 1, 2023

Date of payment of the Investment

Scheduled for January 2023

April 1, 2023

Start of the joint venture

Scheduled for January 2023

April 1, 2023

These procedures and schedules are subject to change depending on how talks between the parties proceed.
(2) Reason for the changes
The two parties changed the schedules because the paperwork, etc., related to the Company Split and the joint
venture requires more time than originally estimated.
2. Decisions made regarding the New Company (succeeding company)(1) Decision on company name
The company name of the New Company (succeeding company) has been decided as follows.
Company nameTOYOBO MC Corporation(2) Change in the date of establishment
The date of establishment has been changed as follows.
Before change

After change

Scheduled for October 2022

Scheduled for September 2022

(3) Decision on the representative*The representative has been decided as follows.
Title and name of representative

Director, Chikao Morishige(Toyobo’s Representative Director, Co-COO and CTO)

*After the Investment is made, another representative will be selected by MC, increasing the number to two.
(4) Decision on the capital stock and so forth
The capital stock, net and total assets of the New Company (succeeding company) have been decided as follows.
Capital stock

100 million yen

Net assets

200 million yen

Total assets

200 million yen

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