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Main Contents
Mitsui & Co., Ltd. (“Mitsui,” head office: Tokyo, President and CEO: Kenichi Hori) has decided today to dissolve and liquidate its wholly owned subsidiary MBWA Investment LLC (“MBWA”).
1. Overview of the consolidated subsidiary MBWA to be transferred
| (1) Name | MBWA Investment LLC | |||
|---|---|---|---|---|
| (2) Location | Delaware, US | |||
| (3) Title and name of representative | Masayuki Takekoshi (President and CEO) | |||
| (4) Description of business | Procurement of ethylene dichloride (EDC) and caustic soda, investment in Blue Water Alliance JV LLP (“BWA”) (a subsidiary of Olin Corporation: 51%, MBWA: 49%) | |||
| (5) Contributed capital | 77.8 million US dollars | |||
| (6) Date of establishment | November 1, 2022 | |||
| (7) Large shareholders and ownership ratios | Mitsui (100%) | |||
| (8) Relationship between Mitsui and the said company | Capital relationship | 100% of the investment made by Mitsui | ||
| Personnel relationship | Mitsui appoints officers to MBWA | |||
| Business relationship | There are no material business relationships | |||
| (9) Consolidated operating results and consolidated financial position of said company for the last three fiscal years (figures in millions of yen, converted at a rate of USD/JPY 155) | ||||
| Fiscal year ended | March 2023 | March 2024 | March 2025 | |
| Total assets | 7,835 | 11,893 | 11,797 | |
| Net assets | 7,227 | 11,139 | 11,051 | |
| Profit | -275 | -646 | -87 | |
2. Reasons for dissolution and liquidation
In light of changes in the business environment, Mitsui and Olin reviewed the management strategy and jointly decided to dissolve and liquidate BWA. Accordingly, Mitsui decided to dissolve and liquidate MBWA.
3. Outlook
Dissolution and liquidation of MBWA and BWA is planned to take place pending procedures such as obtaining the necessary approvals from relevant authorities. Any loss or impact on the consolidated financial results for the fiscal year ending March 2026 resulting from this are expected to be minor.