Another business change! Mitsui Chemicals closes down styrene-acrylic resin and polyester resin related divisions

Mitsui Chemicals has decided to exit the styrene-acrylic resin and polyester resin related business for toner binders, mainly involving the ALMATEX™ and ALMASTAR™ brands. The business, which is produced by the Coatings and Engineering Materials Division of the ICT Solutions Business Division of Mitsui Chemicals, is scheduled to end in the first half of fiscal 2025.

The company decided to close the toner binder business mainly because the profitability of the business has been under great pressure due to increased price competition, soaring raw material prices, and shrinking demand due to changes in working methods since the outbreak of the COVID-19 pandemic.

In response to this situation, although Mitsui Chemicals has made every possible effort to rationalize the business and reduce costs, it now believes that it cannot ensure the profitability level required to maintain the business and has decided to exit the business. This decision reflects the company's strategic focus on optimizing its portfolio and focusing on more sustainable and profitable products in line with its VISION 2030 plan.

The decision to exit the production of toner binder resins is expected to have a slight impact on the financial performance of the Mitsui Chemicals Group. Therefore, the company does not expect any changes to its current earnings forecast. "Mitsui Chemicals remains focused on executing its long-term business strategy while continuing to monitor its financial position. The Group will ensure that this strategic shift does not undermine its overall business prospects or hinder its ongoing efforts to achieve sustainable growth in other key areas of its portfolio."