May 31, 2026 -- Notice of the Sale of Shares in Soda Aromatic Co., Ltd.
Mitsui & Co., Ltd. (“Mitsui”, Head Office: Tokyo, President and CEO: Kenichi Hori) currently owns 34% of shares in Soda Aromatic Co., Ltd. (“Soda Aromatic”, Head Office: Tokyo, President and CEO: Masashi Kato), which engages in production and sales of wide range of flavors, fragrances and related products. Mitsui and Toray Industries, Inc. (“Toray”, Head Office: Tokyo, President and CEO: Mitsuo Ohya) (which owns 66% of shares in Soda Aromatic) decided to sell all of their shares in Soda Aromatic to Samyang Corporation Japan, Inc., a subsidiary of Samyang Corporation (the “Transaction”), and have signed a share purchase agreement. The Transaction is scheduled to be completed during the first half of the fiscal year ending March 31, 2027, subject to regulatory approvals. Mitsui is executing this Transaction as part of its business portfolio restructuring with the aim of accelerating the shift to a more scalable and high-growth global market. Under the Medium-term Management Plan 2029, Mitsui has identified an advanced Wellness Ecosystem Creation as one of Mitsui’s Key Strategic Initiatives and will continue to strengthen its food science business to respond to the diversification of consumer values and achieve the improvement of quality of life. Mitsui remains committed to helping people lead better quality of life by promoting health and well-being through our contributions to preventive care.
1. Overview of the Transaction
(1) Shares to be transferred: All shares of Soda Aromatic held by Toray: 198 shares (66%) All shares of Soda Aromatic held by Mitsui: 102 shares (34%)
(2) Transaction Value: Enterprise Value 41.0 billion yen (The final transfer price will be determined following adjustments for the Soda Aromatic’s net debt, working capital, and other items as of the closing date of the Transaction.)
(3) Signing Date: May 29, 2026
(4) Closing Date: During the first half of the fiscal year ending March 31, 2027
Note: The closing date of the share transfer is subject to the satisfaction of conditions precedent, including approvals from relevant regulatory authorities.
2. Treatment of Employees
In this Transaction, Mitsui and Toray recognize that maintaining the employment and treatment of employees working at Soda Aromatic is of critical importance, and have therefore engaged in thorough discussions with Samyang Corporation. We expect Soda Aromatic’s business to continue to develop in a stable manner after the Transaction.
Company Profile
Official name
Soda Aromatic Co., Ltd.
Official name
Soda Aromatic Co., Ltd.
Head Office Location
Chuo-ku, Tokyo
Business Activities
Production and sales of all varieties of flavors, fragrances and related products
Representative
Masashi Kato
Capital
1.49 billion yen
Shareholders
Toray: 66%, Mitsui: 34%
Established
1915
Number of employees
509 (consolidated) 345 (individual) As of March 31, 2026
Website
https://www.soda.co.jp/
Official name
Samyang Corporation
Official name
Samyang Corporation
Head Office Location
Seoul, South Korea
Business Activities
Chemicals (engineering plastics), Food (sugars, etc.)
Representative
Unick Lee
Established
2011
Website
https://www.samyangcorp.com/en/index
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