Asahi Kasei, Mitsui Chemicals, and Mitsubishi Chemical announced on May 12 that they would proceed with discussions on the integration of their ethylene businesses, based on Asahi Kasei holding a 10% stake, and Mitsui Chemicals and Mitsubishi Chemical each holding a 45% stake in a joint venture operating ethylene facilities in western Japan. The investment ratios are based on the offtake ratios of basic chemicals.

The three companies had already agreed in January of this year that, after establishing a joint venture, they would cease production at Asahi Kasei Mitsubishi Chemical Ethylene Corp (AMEC)'s Mizushima plant ethylene facility (with an annual production capacity of 496,000 mt) by around fiscal 2030, and consolidate it into Mitsui Chemicals' consolidated subsidiary, Osaka Petrochemical's ethylene facility (with an annual production capacity of 455,000 mt).

Through the reorganization of facilities, they aim to promote the decarbonization and optimization of ethylene production facilities, thereby strengthening the competitiveness of the basic chemicals business and building a sustainable business foundation.