News

Naoshima Yoshino Gypsum Co., Ltd. ("the Affiliate"), an equity method affiliate of Mitsubishi Materials Corporation will cease manufacturing gypsum board products and dissolve at the end of December 2023.
Since Russia's invasion of Ukraine in February last year, various costs have risen, including energy prices such as electricity and coal, and it has become extremely difficult for the Affiliate to continue the business. After careful consideration with co-investor Yoshino Gypsum Co., Ltd., we have decided to dissolve the Affiliate.
The impact of the dissolution of the Affiliate on the consolidated financial results of Mitsubishi Materials Corporation for the fiscal year ending March 2024 will be limited.

Overview of the Affiliate

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