OREANDA-NEWS. Asahi Kasei Corporation (Head office: Chiyoda-ku, Tokyo; President: Toshio Asano) and its wholly owned subsidiary Asahi Kasei Chemicals Corporation (Head office: Chiyoda-ku, Tokyo: Yuji Kobayashi), and Mitsubishi Chemical Holdings Corporation (Head office: Chiyoda-ku, Tokyo; President: Hitoshi Ochi) and its wholly owned subsidiary Mitsubishi Chemical Corporation (Head office: Chiyoda-ku, Tokyo; President: Hiroaki Ishizuka) today announced the appointment of the following representatives of Asahi Kasei Mitsubishi Chemical Ethylene Corporation, which was announced in the press release titled “Establishment of a Joint Venture for Operation of Unified Naphtha Cracker in Mizushima” on May 28, 2015.

In addition, necessary regulatory approvals for the company’s establishment have been obtained, and operations will start on April 1, 2016.

Asahi Kasei Mitsubishi Chemical Ethylene Corporation
Top Executives (Effective April 1, 2016)

Managerial position Current position Name
President & Representative Director General Manager,
Basic Chemicals Division,
Asahi Kasei Chemicals Corporation		 Makoto Sakamoto
Vice President & Representative Director Assistant to Chief Operation Officer,
Basic Petrochemicals Division,
Mitsubishi Chemical Corporation		 Hiroaki Numata

Note: Both Sakamoto and Numata will be concurrently appointed as Representatives of Nishi Nippon Ethylene LLP as of the same date.

Reference: Company Outline

Start of operation April 1, 2016
Head office Uchisaiwai-cho, Chiyoda-ku, Tokyo
Paid-in capital ?2 billion
(Shareholding ratio: Asahi Kasei Chemicals 50%, Mitsubishi Chemical 50%)
Sales Approximately ?140 billion
Business line Manufacture of basic petrochemicals for sale to its parent companies;
procurement of feedstocks