# Toyobo and Mitsubishi Corporation to form joint venture in functional materials

Toyobo Co., Ltd. and Mitsubishi Corporation agreed to establish a new joint venture company specializing in functional materials, inheriting Toyobo's functional materials business, with operations expected to commence in January 2023.

- Type: Acquisition
- Announced: 2022-03-24
- Where: Japan
- Status: announced
- Products: functional materials
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

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

## Sources

- [acnnewswire.com](https://www.acnnewswire.com/press-release/english/74049/toyobo-and-mc-agree-to-establish-new-joint-venture-in-functional-materials), 2022-03-24: "Toyobo and MC are pleased to announce our agreement to establish a new joint venture company that will specialize in the planning, development, manufacturing and sales of functional materials."

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