Sanyo Chemical Industries Ltd. and Toyota Tsusho Corp. completed the acquisition of an additional 40% stake in San-Dia Polymers, Ltd. from Mitsubishi Chemical Corporation.
September 30, 2013 at 05:00 am
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Sanyo Chemical Industries Ltd. (TSE:4471) and Toyota Tsusho Corp. (TSE:8015) agreed to acquire an additional 40% stake in San-Dia Polymers, Ltd. from Mitsubishi Chemical Corporation on March 29, 2013. Under the terms of the agreement, Sanyo Chemical Industries will acquire an additional 10% stake and Toyota Tsusho Corp. will acquire 30% stake. Pursuant to the transaction, Sanyo Chemical Industries will own 70% stake and Toyota Tsusho Corp. will own 30% stake in San-Dia Polymers, Ltd. San-Dia Polymers reported net sales of ¥33.68 billion for the period ended March 31, 2012.
As of March 29, 2013, Board of Directors' of Mitsubishi Chemical resolved to transfer 10% stake to Sanyo Chemical Industries Ltd. and 30% stake to Toyota Tsusho Corp. The acquisition of an additional 10% stake by Sanyo Chemical Industries Ltd. has been completed on March 29, 2013 and the acquisition of 30% stake by Toyota Tsusho Corp. is subject to approval of competition authorities in and outside Japan. Due to the share transfer, Mitsubishi Chemical Corporation expects recordings of extraordinary profits of ¥6.8 billion in financial statements.
Sanyo Chemical Industries Ltd. (TSE:4471) and Toyota Tsusho Corp. (TSE:8015) completed the acquisition of an additional 40% stake in San-Dia Polymers, Ltd. from Mitsubishi Chemical Corporation on September 30, 2013. San-Dia Polymers has been renamed SDP Global Co., Ltd.
Toyota Tsusho Corporation is a diversified group organized around 7 areas of activity:
- production of metal (24.1% of net sales): steel bars, flat steel, wires, pipes, aluminum, etc.;
- manufacturing of chemical products and electronic components (23.2%);
- production of automobile components and accessories (12.4%). Toyota Tsusho Corporation also offers logistics services and tire assembly services;
- manufacturing of industrial machines equipment and gas (10.9%);
- sale of vehicles (7.9%): private cars, vans, heavy vehicles and motorbikes/scooters. The group also sells spare parts and offers after-sales services;
- manufacturing of food products (7.7%);
- other (13.8%): sale of insurance products (life, health, accident and house), accommodation services, sale of medical equipment and services, sale of textile products and office supplies.
Net sales are distributed geographically as follows: Japan (30.8%), China (14.4%), Africa (13.7%), the United States (9.8%) and other (31.3%).
Sanyo Chemical Industries Ltd. and Toyota Tsusho Corp. completed the acquisition of an additional 40% stake in San-Dia Polymers, Ltd. from Mitsubishi Chemical Corporation.
TOYOTA TSUSHO CORPORATION 
