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.
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui’s current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui’s actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui’s latest Annual Securities Report and Semi-annual Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements.
This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.
The information contained in this release is true and accurate at the time of publication; however, it may be subject to change without prior notice.