# Mitsui Chemicals and Asahi Kasei establish joint venture MAL for nonwovens business

Mitsui Chemicals and Asahi Kasei established M.A. Life Materials Co., Ltd. (MAL) on October 2, 2023, to combine their nonwovens businesses, with Mitsui holding 60.62% and Asahi 39.38%.

- Type: Acquisition
- Announced: 2023-10-02
- Where: Tokyo, Japan, Japan
- Value: $70.0M (10.5B JPY)
- Jobs: 700
- Status: completed
- Products: nonwovens
- Sectors: [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md)

## Companies

- [Asahi Kasei](https://endata.com/companies/8888.md) (acquirer)
- [Asahi Kasei](https://endata.com/companies/8888.md) (partner)
- [Mitsui Chemicals](https://endata.com/companies/19809.md) (acquirer)
- [M.A. Life Materials Co., Ltd.](https://endata.com/companies/72980.md) (target)
- [Mitsui Chemicals Asahi Life Materials Co., Ltd.](https://endata.com/companies/72990.md) (target)

## Sources

- [irbank.net](https://irbank.net/E00840/notes/NotesBusinessCombinationsCondensedQuarterlyConsolidatedFinancialStatementsIFRSTextBlock?f=S100STRO), 2023-10-01: "当社及び旭化成株式会社は、2023年10月2日にエム・エーライフマテリアルズ株式会社を設立し、各社が営む不織布事業をMALへ承継いたしました。"
- [jp.mitsuichemicals.com](https://jp.mitsuichemicals.com/en/release/2023/2023_1002/index.htm), 2023-10-02: "Mitsui Chemicals Asahi Life Materials has taken the first step toward its ambition of becoming the world's leading nonwovens company."
- [irbank.net](https://irbank.net/E00840/notes/NotesBusinessCombinationsConsolidatedFinancialStatementsIFRSTextBlock?f=S100W2O4), 2024-04-01: "We have concluded that transforming the business into one that can sustain growth by integrating both companies' operations is the best option."

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