Mitsubishi Chemical Holdings history

1934: Nippon Tar is established by the Mitsubishi industrial empire.

1950: Nippon Chemical is separated from Mitsubishi and becomes a public limited company.

In 1952, the company's polyvinyl chloride (PVC) division was turned over to a company called Monsanto Chemical Industries (eventually known as Mitsubishi Monsanto), a joint venture created by Nippon Chemical and Monsanto of the United States.

Mitsubishi Chemical constructed an aluminum rolling mill in 1963 under a joint venture with the Reynolds company of the United States.

The world oil crisis of 1973 compelled Mitsubishi Chemical Industries to reduce its work force in order to remain profitable.

The transfer of the light metals division to Mitsubishi Light Metal Industries was completed in 1976.

The unit, which Mitsubishi Chemical purchased from Exxon in 1981, was reportedly sold for about $7 million.

In 1983, the Mainichi Shimbun and Nihon Keizai Shimbun, two Japanese newspapers, reported that the United States Defense Department forced the American division of Mitsubishi Chemical to sell its Optical Information Systems unit to the McDonnell Douglas Corporation.

In a continuing effort to expand its pharmaceutical division, Mitsubishi Chemical purchased the Mitsubishi Yuka Pharmaceutical company from the Mitsubishi Petrochemical Company in 1985.

In 1986, however, stronger profitability returned and a five yen dividend was reinstated.

The deal was completed in October 1994 and created the Mitsubishi Chemical Corp. (MCC), Japan's largest chemical manufacturer with sales surpassing ¥1 trillion.

The company made several key moves during this time period, including the divestiture of unprofitable businesses and the sale in 2002 of its agricultural chemicals business.