November 18, 2024 – Mitsubishi Chemical Group has unveiled its ambitious business vision, “KAITEKI Vision 35 (KV35),” aiming to make its chemical business the core driver of growth. The company aspires to achieve a core operating revenue of 570 billion yen (approximately 26.37 billion RMB) by 2029 and further soar to 900 billion yen (around 41.63 billion RMB) by the 2035 fiscal year.
To realize this vision, Mitsubishi Chemical will concentrate on five key sectors: mobility, semiconductors, food, healthcare, and green chemicals. By liquidating and divesting non-core businesses while actively investing in growth areas, the company plans to swiftly expand its profit margins. Green chemicals, in particular, are prioritized for future development, with plans to establish a stable supply base and transform into a leading global green specialist.
According to AsiaMB, Mitsubishi Chemical’s new medium-term business plan underscores the significance of the green chemicals business. The company intends to substantially increase its share of core operating profits through the active development of its chemical operations. Additionally, in industrial gases and pharmaceuticals, especially the semiconductor field, the company seeks to expand collaborations and strengthen partnerships to propel business growth.
Specialty materials are viewed as a crucial driver for future profit growth. Mitsubishi Chemical will focus on strategic businesses such as barrier films, resins, polyester films, semiconductor-related products, and carbon fibers, aiming for breakthroughs in these domains.
To achieve these goals, the company will take decisive actions. Firstly, it plans to liquidate and sell non-core businesses, involving approximately 400 billion yen across 30 projects. Rigorous business selection criteria and management principles will be applied to optimize the portfolio and enhance operational efficiency.
Regarding the MMA business, although the new medium-term plan does not include building a new plant in the US, MMA remains a core business for Mitsubishi Chemical. The company will continue to leverage its global production system to maintain its leading position in global market share.
Notably, Mitsubishi Chemical is also actively promoting carbon neutrality and the circular economy. In May this year, the company, together with Asahi Kasei and Mitsui Chemicals, announced a thorough investigation into carbon neutrality and future capacity reduction for ethylene production facilities in western Japan, along with the implementation of chemical recycling projects. This initiative not only demonstrates the company’s commitment to environmental responsibility but also lays a solid foundation for sustainable development.
Mitsubishi Chemical Group President Tsukamoto Gaku stated, “In the era of carbon neutrality and the circular economy, companies unable to procure basic raw materials will struggle to survive. Through business transformation and restructuring, we aim to ensure the company’s long-term stable development.”