Mitsubishi Rayon Co Ltd.
TYO:3404 ISIN:JP3903600009
Mitsubishi Rayon Co., Ltd. was established as a rayon staple manufacturer in 1933 and has expanded to manufacture and sell synthetic fibers and resins. Chemicals and plastics (chemicals, molding materials, sheets & films, plastic modifiers, coating materials and artificial marbles); Fibers (acrylic fibers, acetate fibers, polyester filaments, polypropylene filaments and textile products); Others (engineering, services, market research, information systems and trading company functions) and Specialty products (carbon fibers, composite materials, plastic optical fibers, image display materials, water purifiers, hollow fiber membrane filters and printed circuit boards).
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Asian markets mostly edged higher on Thursday in the morning. Japan's Nikkei Stock Average fell below 9600 points level for the first time in about four months. Nikkei eased its early gains after a real estate company Tokyo Tatemono said it will issue new shares to raise up to 45.64 billion yen. The Korean market was up on Thursday led by gains in key technology companies.
Japan's Mitsubishi Rayon (TYO:3404) plans to set up a joint venture in Saudi Arabia with major local chemical producer Saudi Basic Industries Corp (Sabic) to produce material used for acrylic glass, a Japanese media reported. The factory is expected to begin operations in 2013.
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