Tosoh acquire remaining shares Nippon Polyurethane

Tosoh to acquire remaining shares of Nippon Polyurethane

5:45 AM, 3rd August 2012
Tosoh to acquire remaining shares of Nippon Polyurethane

TOKYO, JAPAN: Tosoh Corporation will acquire the remaining shares of its subsidiary Nippon Polyurethane Industry Co Ltd (NPU) from Hodogaya Cheical and will convert NPU to a wholly owned subsidiary. The companies collaborated to increase the competitiveness of Tosoh group’s core operations, its vinyl isocyanate chain.

Tosoh made NPU a subsidiary in April 2006 and then upped its stake in NPU to 80.28 per cent in May of 2008. Tosoh acquired the stake on July 17, 2012, in total buying 710,000 shares. The number of shares held by Tosoh Corporation before were 80.28 per cent (2,890,000 shares) and after 100 per cent (3,600,000 shares).

However, the urgency for NPU to recover profitability is a major theme and Tosoh believes that an integrated management and streamlined operations are necessary, hence the decision to acquire the remaining stock.

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