Mitsubishi Chemical Corporation, Japan Polychem Corporation and JNC Corporation decided to transfer the Polypropylene Compound (PPCP) Business held by each party and the FUNCSTER (a thermoplastic resin reinforced with long glass fibers) Business held by JNC to Japan Polypropylene Corporation that is a polypropylene joint venture between JPC and JNC Petrochemical Corporation (Head office: Chiyoda-ku, Tokyo; President: Michio Morita), a fully-owned subsidiary of JNC for integration purposes, upon receipt of approval from the authorities in each relevant country.
With the expansion of overseas production and sales, the automobile industry, which the PPCP Business and FUNCSTER Business deals with, has an intensifying demand for stable supplies of materials of consistently high quality irrespective of the region. On the other hand, MCC, JPC and JNC have been independently engaged in the PPCP Business and the FUNCSTER Business even after JPP was established in 2003. Now these businesses will be integrated into JPP with the aim of unifying the businesses both in Japan and abroad. This will include unification of the distribution networks used by each of the PPCP Businesses and a simultaneous supply of FUNCSTER to companies in the Japan-U.S.-China trilateral framework with the aim of ensuring simultaneous supplies of highly functional materials of globally consistent quality.
Both the PPCP Business and FUNCSTER Business are positioned as important strategic businesses for JPP. Through this business integration, JPP is expected to play an important role in expanding the business in line with the growing global market to enable it to act as a global supplier of highly functional materials.