OREANDA-NEWS. Sanyo Chemical Industries, Ltd. and Toyota Tsusho Corporation concluded a new joint venture agreement regarding San-Dia Polymers, Ltd., a consolidated subsidiary of Sanyo Chemical Industries which manufactures and sells superabsorbent polymers ("SAP"). With the start of the new joint venture, San-Dia Polymers was renamed SDP Global Co., Ltd. ("SDP Global").

SDP Global will combine San-Dia's R&D capabilities and manufacturing systems with Toyota Tsusho's sales and logistics networks to accelerate global expansion in the growing SAP market through aggressive investment and to better respond to market and customer needs.

Sanyo Chemical Industries and Toyota Tsusho agreed with Mitsubishi Chemical Corporation to acquire its entire 40% stake in San-Dia Polymers, a consolidated subsidiary of Sanyo Chemical Industries which manufactures and sells SAP. On the same day, Sanyo Chemical Industries concluded a stock transfer agreement with Mitsubishi Chemical to complete acquisition of 10% of the 40% stake. Toyota Tsusho has now concluded its portion of the stock transfer agreement with Mitsubishi Chemical in line with competition laws in and outside Japan, completing acquisition of the remaining 30% stake. As a result, the joint venture is now 70% owned by Sanyo Chemical Industries and 30% owned by Toyota Tsusho.