JFTC Reviews the Proposed Acquisition through Absorption-type Company Split of Polypropylene and Linear Low-Density Polyethylene Manufacturing and Sales Business of SUMITOMO CHEMICAL COMPANY, LIMITED by Prime Polymer Co., Ltd.

April 24, 2026
Japan Fair Trade Commission

　The Japan Fair Trade Commission (hereinafter referred to as the “JFTC”), after receiving the notification of the planned absorption-type company split, has reviewed the proposed acquisition by Prime Polymer Co., Ltd. (JCN 4010401057155) (hereinafter referred to as “Prime Polymer”) of the polypropylene and linear low-density polyethylene manufacturing and sales business of SUMITOMO CHEMICAL COMPANY, LIMITED (JCN 2010001071327) (hereinafter referred to as “SUMITOMO CHEMICAL”), and reached the conclusion that the transaction would not substantially restrain competition in any particular fields of trade. Accordingly, the JFTC notified Prime Polymer and SUMITOMO CHEMICAL that it would not issue a cease and desist order, and closed its review.

Ⅰ. Overview of the Transaction

　Prime Polymer, a joint venture between Mitsui Chemicals, Inc. and Idemitsu Kosan Co., Ltd. (hereinafter referred to as “Idemitsu Kosan”), which engages in the manufacture and sales of polypropylene and linear low-density polyethylene, plans to acquire, through an absorption-type company split, the polypropylene and linear low-density polyethylene manufacturing and sales business of SUMITOMO CHEMICAL. In exchange, SUMITOMO CHEMICAL will acquire shares of Prime Polymer, and Prime Polymer will become a joint venture between Mitsui Chemicals, Idemitsu Kosan, and SUMITOMO CHEMICAL.

Ⅱ. Reviewing Process

･ November 25, 2025: The JFTC received the notification regarding the proposed transaction (the commencement of the primary review).
･ December 25, 2025: The JFTC requested reports, etc. (the start of the secondary review).
･ April 2, 2026: The JFTC received all the requested reports (the due date for comments was set on July 2, 2026).
･ April 24, 2026: The JFTC notified the parties of its decision not to issue a cease and desist order

Ⅲ. Conclusion

　The JFTC concluded that the proposed transaction would not substantially restrain competition in any particular fields of trade.
(Footnote)
　The JFTC has been authorized to conduct reviews on whether plans of business combination may be substantially to restrain competition in particular fields of trade by following procedures prescribed in the Antimonopoly Act (hereinafter referred to as the “AMA”). When a notifying corporation submits a notification form to the JFTC and the JFTC receives it, the notifying corporation is prohibited from effecting the planned business combination in question by the expiration of the 30-days waiting period from the date of receipt of the said notification. During the waiting period, concerning the business combination in question, the JFTC will either; (1) judge that the said business combination is not problematic in light of the AMA, or; (2) judge that more detailed review is necessary and request submission of the necessary reports, information or materials, or; (3) provides Notification of the Commitment Procedures.
　In the case of (1) above, to improve transparency of the review of business combination, the JFTC shall give notification to the effect that it will not issue a cease and desist order.
　In the case of (2) above, the period when the JFTC may give notice of hearing of opinions shall be extended until 120 days after the date of receipt of the notification or 90 days after the date of receipt of all reports etc., whichever is later. In case the JFTC judges, within this extended period, that the business combination plan in question is not problematic in light of the AMA, it shall give notification to the effect that it will not issue a cease and desist order, same as the case of (1).
　In the case of (3) above, the procedures in detail are described in the Policies Concerning Commitment Procedures.


＊This announcement is a tentative translation.
Please refer to the original text written in Japanese for more details.