PRESS RELEASE

Mitsui Chemicals, Idemitsu Kosan, and Sumitomo Chemical Receive Japan Fair Trade Commission Clearance for the Integration of Sumitomo Chemical’s PP and LLDPE Businesses into Prime Polymer

Mitsui Chemicals, Inc., Idemitsu Kosan Co.,Ltd., and Sumitomo Chemical Co., Ltd. announced on September 10, 2025, a basic agreement regarding the integration of the polyolefin (PO) business operated by Prime Polymer Co., Ltd., a joint venture between Mitsui and Idemitsu, with Sumitomo Chemical’s polypropylene (PP) business and linear low-density polyethylene (LLDPE) business in Japan. This integration aims to realize resilient and essential businesses that support Japanese industries and to enhance the competitiveness of the PO business, including PP and polyethylene (PE), in Japan. Subsequently, on December 24, 2025, the companies announced the conclusion of a business integration agreement and a joint venture agreement regarding the Business Integration.

For the purpose of the Business Integration, PRM and Sumitomo Chemical submitted a plan notification regarding the Business Integration to the Japan Fair Trade Commission pursuant to the Act on Prohibition of Private Monopolization and Maintenance of Fair Trade and have been undergoing the Japan Fair Trade Commission’s review. As a result, notice has today been received from the Japan Fair Trade Commission that it will not issue a cease-and-desist order.

Overseas merger review procedures by relevant competition authorities are currently ongoing, and the Business Integration is scheduled to be implemented after the completion of such reviews.

Mitsui Chemicals, Idemitsu Kosan, and Sumitomo Chemical Enter Into MOU on Integration of Sumitomo Chemical’s PP and LLDPE Businesses into Prime Polymer, Aiming to Strengthen the Competitiveness of the Domestic Polyolefin Business

Mitsui Chemicals, Idemitsu Kosan, and Sumitomo Chemical Concluded a Definitive Agreement for the Business Integration of Sumitomo Chemical’s PP and LLDPE.