Mitsubishi Materials Corp (MMC) and UBE Corp (UBE) have announced that Mitsubishi UBE Cement Corp (“MUCC”, Ownership: MMC 50 per cent, UBE 50 per cent), an equity method affiliate of MMC and UBE, will begin preparations for the listing of its shares on the Tokyo Stock Exchange.
MUCC began operations in 2022 after taking over the cement business and related businesses of both shareholders. Since then, MUCC has worked to further strengthen its business foundation by optimising production systems and reconstructing sales and logistics systems from upstream to downstream, thereby improving the efficiency of the entire value chain and maximising synergies.
The business environment surrounding MUCC is facing an unprecedented turning point due to geopolitical risks and changes in economic policies in various countries, in addition to accelerating global moves toward realising a sustainable society. Under such an environment, MUCC has set forth its vision for 2030 to become a “corporate group with leading technology and high profitability by maximising the synergistic effects of business integration.” MMC, UBE and MUCC believe that realising the vision for 2030 through the IPO will contribute to the enhancement of MUCC’s corporate value by enabling flexible funding and strengthening the corporate presence.
The listing of the shares is subject to approval by the relevant authorities. In addition, depending on the results of the deliberations during the preparation process for the listing, it is possible to postpone the listing of the shares of MUCC or conclude that it will not be listed. Therefore, the date of the listing has not been determined at this time.
