# Toyobo and Mitsubishi Corporation to establish functional materials joint venture

Toyobo and Mitsubishi Corporation have signed a contract to establish a joint venture for the planning, development, manufacturing and sale of functional materials. Toyobo will hold 51% and Mitsubishi 49%, with operations expected to start around January 2023.

- Type: Acquisition
- Announced: 2022-03-24
- Where: Osaka, Osaka Prefecture, Japan
- Status: announced
- Products: functional materials, films, engineering plastics, spunbond, super fibers, aqua membranes, fine chemicals
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md), [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md)

## Companies

- [Mitsubishi Corporation](https://endata.com/companies/575.md) (partner)
- [Toyobo](https://endata.com/companies/7774.md) (partner)

## Sources

- [toyobo.co.jp](https://www.toyobo.co.jp/news/2022/release_1303.html), 2022-03-24: "東洋紡株式会社（以下「東洋紡」）と三菱商事株式会社（以下「三菱商事」）は、機能素材の企画、開発、製造および販売を行う新たな合弁会社（以下「新会社」）を設立し、2023年1月頃を目途に事業開始 *1 することに関する契約を締結いたしました。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.