产能超230万吨！三大化工巨头整合聚烯烃业务

Core Viewpoint - Mitsui Chemicals, Idemitsu Kosan, and Sumitomo Chemical have reached a final agreement to create a strong polyethylene production company, addressing the challenges in Japan's polyethylene market due to declining demand and oversupply issues [1][2]. Group 1: Company Collaboration - The three Japanese chemical giants announced a memorandum of understanding on September 10 to integrate their polyethylene businesses, specifically combining the operations of Prime Polymer Co., Ltd. (PRM) and Sumitomo Chemical's polypropylene (PP) and linear low-density polyethylene (LLDPE) businesses in Japan [1]. - The agreement involves two phases: the first phase will see Sumitomo Chemical transfer its PP and LLDPE business to PRM, acquiring a 20% stake in PRM by July 1, 2026, while Mitsui will hold 52% and Idemitsu will hold 28% [1][2]. Group 2: Market Context - Polyolefins account for approximately 50% of Japan's plastic demand, making it crucial for the industrial sector [1]. - The Japanese market is experiencing a decline in demand for polyolefins due to population decrease and changing lifestyles, leading to expectations of further demand reduction [1]. Group 3: Production Capacity and Financial Impact - PRM currently has a production capacity of 1.26 million tons/year for polypropylene and 0.55 million tons/year for polyethylene, making it a major producer in Japan [2]. - After the completion of the integration, PRM's total production capacity will reach 2.31 million tons/year, with projected net sales of 387.3 billion yen for the fiscal year 2024 and annual cost savings exceeding 8 billion yen [2]. - Following the integration, the combined production capacity will account for over 30% of Japan's domestic plastic capacity [2].