Toray to Take Equity Stake in Mitsui Subsidiary MicroBiopharm Japan Co., Ltd.
Toray Industries, Inc. ("Toray"; head office: Tokyo; President, CEO and COO: Akihiro Nikkaku) and Mitsui & Co., Ltd. ("Mitsui"; head office: Tokyo; President and CEO: Masami Iijima) have today reached agreement concerning the acquisition by Toray of a 20% stake in Mitsui's wholly-owned subsidiary MicroBiopharm Japan Co., Ltd. ("MBJ"; head office: Tokyo; President: Masanobu Suzuki). A share transfer agreement was concluded today.
MBJ is involved in the manufacture, including contract manufacturing, and sale of pharmaceuticals (API, intermediates) produced using proprietary production technology created by combining biotechnology with fermentation technology developed over many years. It also uses this technology to produce and sell fine specialty chemicals. In addition, MBJ manufactures and sells pharmaceuticals, especially anticancer drugs, through its Chinese affiliate, Shenzhen Main Luck Pharmaceuticals Inc., in which it has a 34% shareholding.
Toray has identified life science business as one of the Intensively Developing and Expanding Businesses, which are the drivers of the next-generation growth. In the pharmaceuticals and medical products segment, it is developing business activities in a number of fields, including drugs for the treatment of hepatitis B, hepatitis C and chronic arterial occlusive disease, medical devices, such as artificial kidneys for use in artificial dialysis, and bio-tools. Under Project AP-G 2013, a new medium-term management program launched in April 2011, Toray is working to expand its involvement in advanced materials. As part of this strategy, it aims to expand its pharmaceuticals and medical products business through innovative research and development based on its original advanced technology.
Mitsui regards the medical and healthcare business as a priority business segment, and its involvement in this field encompasses the entire pharmaceutical value chain, from pharmaceutical manufacturing in the medical field to support for distribution and sales. Mitsui's wide-ranging activities include participation in support services for clinical trials for pharmaceutical products, and for manufacturing and sales, as well as operational and management support services for medical institutions, and healthcare-related information services. In particular, Mitsui has more than 40 years of experience in the provision of support services for pharmaceutical manufacturing through contract manufacturing organizations and has built close relationships with pharmaceutical manufacturers in Japan and internationally through the supply of pharmaceutical raw materials.
Toray sees this investment as an opportunity to expand its technology sharing with MBJ, discover new drugs and strengthen its manufacturing infrastructure at the development stage. It will also provide new impetus for the expansion of MBJ's product categories. Mitsui aims to use its global network and business experience in the medical and healthcare field and chemicals segment to help MBJ products achieve a larger share in the world market. Both Toray and Mitsui intend to use their experience and know-how to enhance the potential of MBJ while also strengthening their relationship in the medical and healthcare field and chemicals segment through their collaboration with MBJ.
<Profile of MBJ>
Head office
:
3-6 Nihonbashihoncho 3-chome, Chuo-ku, Tokyo, 103-0023
President
:
Masanobu Suzuki, President and Representative director
Date of establishment
:
July 1, 2011
Number of employees
:
233 (as of July 1, 2011)
Capital
:
10 million yen (as of July 1, 2011)
Shareholders (after the share transfer)
:
Mitsui & Co., Ltd. (80%), Toray Industries, Inc. (20%)
Business activities
:
Manufacture, including contract manufacturing, of API and performance chemicals based on microorganisms, drug development support services