Ube Industries and Mitsubishi Chemical Announce Electrolyte Joint Venture in China

TOKYO, January 15, 2018 _ Ube Industries, Ltd. and Mitsubishi Chemical Corporation announced in a press release dated October 13, 2016, "Ube Industries and Mitsubishi Chemical Announce Tie-Up for Electrolyte Business in China," that the two companies had agreed to a tie-up for joint operations of their lithium-ion battery electrolyte businesses in China. With the procedures related to competition laws in China and relevant countries completed and the joint venture beginning operation in January of this year, the companies today announced the following details.

By utilizing their electrolyte business intellectual property and development capabilities in China through this joint venture, Ube Industries and Mitsubishi Chemical will further enhance their technologies and strengthen cost competitiveness.

The two companies will also continue to study additional possibilities for a global alliance in the electrolyte business.

Data for Joint Venture

Company Name	Changshu UM Battery Materials Co., Ltd.
Address	(Head office and plant) 15, Dongzhou Road, Changshu Economic & Technological Development Zone, Jiangsu Province, China
Representatives	Chairman	Yuki Nishida Executive Officer and General Manager of Battery Materials and Fine Chemicals Division, Ube Industries, Ltd.
	Vice Chairman	Yuji Kitada Senior Associate Director Division General Manager, Lithium Ion Battery Materials Div. Mitsubishi Chemical Corporation
	President	Masaki Nakai (Seconded from Ube Industries)
	Vice President	Junichi Nakayama (Seconded from Mitsubishi Chemical)
Capital Stock	RMB 159 million
Shareholders	Ube Industries (50%), Mitsubishi Chemical (50%) *
Business Description	Manufacturing and marketing of lithium-ion battery electrolytes

*

Mitsubishi Chemical has transferred 50% of its equity in its electrolyte subsidiary in China to Ube Industries, and Ube Industries has transferred the trade rights of its electrolyte subsidiary in China to the joint venture. Further, the manufacturing bases for both subsidiaries have been consolidated in Changshu (at the manufacturing base of the former Mitsubishi Chemical electrolyte subsidiary).

The relevant page

Ube Industries and Mitsubishi Chemical Announce Tie-Up for Electrolyte Business in China (October 13, 2016)