Financial Data and Key Metrics Changes - Third quarter Adjusted EBITDA was $575 million compared to $844 million in the prior period, reflecting lower ownership in three businesses following the partial sale of Anktrus and including $77 million of tax benefits [15] - Adjusted EFO for the quarter was $284 million, benefiting from lower current tax expense and reduced interest expense due to decreased corporate borrowings [15] Business Line Data and Key Metrics Changes - The industrial segment generated third quarter Adjusted EBITDA of $316 million compared to $500 million in the prior period, with a 17% increase in performance when including tax benefits [16] - The business services segment's Adjusted EBITDA was $188 million compared to $228 million last year, impacted by the sale of a partial interest in dealer software and technology services [17] - The infrastructure services segment generated Adjusted EBITDA of $104 million compared to $146 million during the same quarter last year, reflecting the sale of offshore oil services and a partial interest in work access services [18] Market Data and Key Metrics Changes - The broader global economy has remained resilient, with public markets at record highs and transaction activity increasing due to declining global interest rates [7][8] - The company has seen a significant increase in its consolidated market cap by nearly $1 billion following the announcement of a corporate structure simplification [5] Company Strategy and Development Direction - The company is focused on capital recycling, having generated over $2 billion in proceeds and repaid $1 billion of borrowings, while also investing $525 million in strategic growth acquisitions [4] - Plans to simplify corporate structure aim to improve trading liquidity and increase demand for shares from index investors [5] - The company is leveraging AI to enhance operational capabilities and drive value creation [6][50] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism heading into the fourth quarter, noting strong operational performance and a robust investment environment [7][45] - The company remains focused on organic growth and operational improvements rather than pursuing new concessions in the BRK business [24] Other Important Information - The company has a pro forma liquidity of approximately $2.9 billion at the corporate level, providing flexibility for growth and capital allocation [19] - A buyback program has been launched, allowing for the repurchase of an additional 8 million units and shares [19] Q&A Session Summary Question: Regarding BRK and potential IPO - Management confirmed that an IPO is one option for monetizing BRK, but the capital markets environment in Brazil remains challenging [22] Question: On La Trobe's regulatory issues - Management clarified that the issues are primarily disclosure-related and have not impacted the underlying fundamentals of the business [26] Question: On DexKo's performance outlook - Management indicated that DexKo is performing well, with signs of recovery in market demand, and expressed optimism for the coming year [46]

Core Viewpoint - Mitsubishi Chemical Group has announced its exit from the printer toner resin business due to shrinking printing demand and limited future growth potential, aiming to advance structural reorganization [1] Business Operations - The production of the toner resin "Diacron," which enhances toner adhesion to paper, will cease by the end of March 2026, with sales ending by June 2026 [1] - The business has faced declining profitability due to shrinking printing demand and rising labor costs [1] - The company will continue its toner production independently despite exiting the resin business [1] Structural Reorganization - The production of the resin is based in Toyohashi, Aichi Prefecture, and employees are considering relocation within the same production site [1] - Mitsubishi Chemical is undergoing structural reforms to strengthen its core chemical business, planning to sell or exit approximately 30 unprofitable businesses by March 2030, which collectively generate sales revenue of about 400 billion yen [1]