Mitsui Chemicals, Inc. (head office: Chuo-ku, Tokyo; President & CEO: Satoshi Ichimura; hereinafter “Mitsui”), Idemitsu Kosan Co.,Ltd. (head office: Chiyoda-ku, Tokyo; Representative Director, President: Noriaki Sakai; hereinafter “Idemitsu”), and Sumitomo Chemical Co., Ltd. (head office: Chuo-ku, Tokyo; Representative Director and President: Nobuaki Mito; hereinafter “Sumitomo Chemical”) announced on September 10, 2025, a basic agreement regarding the integration of the polyolefin (PO) business operated by Prime Polymer Co., Ltd. (head office: Chuo-ku, Tokyo; President: Yukiharu Goto; hereinafter “PRM”), a joint venture between Mitsui and Idemitsu, with Sumitomo Chemical’s polypropylene (PP) business and linear low-density polyethylene (LLDPE) business in Japan (such integration, the “Business Integration”). This integration aims to realize resilient and essential businesses that support Japanese industries and to enhance the competitiveness of the PO business, including PP and polyethylene (PE), in Japan. Subsequently, on December 24, 2025, the companies announced the conclusion of a business integration agreement (“Business Integration Agreement”) and a joint venture agreement regarding the Business Integration.For the purpose of the Business Integration, PRM and Sumitomo Chemical submitted a plan notification regarding the Business Integration to the Japan Fair Trade Commission pursuant to the Act on Prohibition of Private Monopolization and Maintenance of Fair Trade and have been undergoing the Japan Fair Trade Commission’s review.
Japan's Fair Trade Commission has cleared the proposed integration of Mitsui Chemicals, Idemitsu Kosan and Sumitomo Chemical's polyolefin businesses.
The deal combines Prime Polymer with Sumitomo's PP and LLDPE units to boost competitiveness and resilience.
Overseas regulatory approvals are pending before final implementation, with completion expected after global clearances.
As a result, notice has been received from the Japan Fair Trade Commission that it will not issue a cease-and-desist order.
Overseas merger review procedures by relevant competition authorities are currently ongoing, and the Business Integration is scheduled to be implemented after the completion of such reviews.
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