Daicel Corporation (Head Office: Kita-ku, Osaka; President & CEO: Yoshimi Ogawa; hereinafter Daicel) has decided to conclude an agreement with Mitsubishi Chemical Corporation (Head Office: Chiyoda-ku, Tokyo; Representative Directors: Yasuo Shimodaira and Nobuo Fukuda), for the acquisition of all the issued shares of Toyama Filter Tow Co., Ltd., which Daicel holds 35% shares (hereinafter, Toyama Filter Tow) to make it a wholly owned subsidiary of the Company as of April 1, 2025.

As a joint venture manufacturing acetate tow, Toyama Filter Tow Co., Ltd. has built an internationally competitive production system to meet robust global demand. By making Toyama Filter Tow a wholly owned subsidiary, Daicel will operate three manufacturing bases, including our Aboshi and Ohtake Plants, as a single entity, and will continue to strengthen the foundation of our acetate tow business.