Catharina Klein
Research expert covering Japan
Mitsubishi Chemical Group Corporation - statistics & facts
With a revenue of over 33 billion U.S. dollars in 2023, Mitsubishi Chemical ranks among the leading chemical companies worldwide. It also remains by far the largest chemical company by total assets in Japan.
Mitsubishi Chemical Group Corporation is based in Tokyo and has several subsidiaries. The chemical company was formed in 2005 from the merger of Mitsubishi Chemical Corporation and Mitsubishi Tanabe Pharma Corporation.
In recent years, Mitsubishi Chemical started several initiatives to support a range of Sustainable Development Goals. To support the reduction of greenhouse gas emissions, the company develops EV battery materials and lighter automotive bodies. Furthermore, it works on biodegradable polymers and other sustainable packaging materials and develops sustainable materials for displays and other electronics.
Since other industries such as the transportation machinery industry and the automotive industry are dependent on materials provided by the chemical industry, it represents one of the most important and largest manufacturing industries in Japan. The overall sales value of the chemical industry increased in recent years, indicating the continuous expansion of the industry.
In recent years, plastic materials were the most exported chemical products, while medical products had the largest import value. Due to the continued demand for pharmaceutical products from the aging population, Japan was expected to remain one of the most important markets for foreign pharmaceutical companies.
Mitsubishi Chemical Group Corporation
The product range of Mitsubishi Chemical is highly diverse and covers the segments of performance products, industrial materials, and health care. Main products include chemicals, plastic film and sheets, electronics such as displays and batteries, fibers and textiles, agricultural chemicals, pharmaceutical products, polymers as well as other inorganic chemical products and pharmaceutical products. In the fiscal year 2022, chemicals made up the segment with the largest revenue of the company, amounting to over 1.4 trillion Japanese yen.In recent years, Mitsubishi Chemical started several initiatives to support a range of Sustainable Development Goals. To support the reduction of greenhouse gas emissions, the company develops EV battery materials and lighter automotive bodies. Furthermore, it works on biodegradable polymers and other sustainable packaging materials and develops sustainable materials for displays and other electronics.
Chemical industry in Japan
The Japanese chemical industry remains the fourth largest worldwide, following China, the United States, and Germany. In Japan, the industry is dominated by few major companies, which are usually highly diversified and often form alliances with other companies.Since other industries such as the transportation machinery industry and the automotive industry are dependent on materials provided by the chemical industry, it represents one of the most important and largest manufacturing industries in Japan. The overall sales value of the chemical industry increased in recent years, indicating the continuous expansion of the industry.
In recent years, plastic materials were the most exported chemical products, while medical products had the largest import value. Due to the continued demand for pharmaceutical products from the aging population, Japan was expected to remain one of the most important markets for foreign pharmaceutical companies.
