Tokyo, Japan – November 12, 2024 – JSR Corporation (Representative Director, CEO and President: Eric Johnson, hereinafter referred to as “JSR”) is dividing the Emulsion business and Fine business of our wholly owned subsidiary, Emulsion Technology, Co., Ltd. (hereinafter referred to as “ETEC”), in a spin-off. The Emulsion business will remain as ETEC and transfer to NIPPON SHOKUBAI CO., LTD. (hereinafter referred to as “NIPPON SHOKUBAI”). NIPPON SHOKUBAI and JSR signed the share transfer agreement for the Emulsion business today. The Fine business will become a new subsidiary of the JSR Group under the name “JSR Fine Technology Co., Ltd.”

ETEC was established in 1963 as a subsidiary of JSR and currently operates two businesses: the Emulsion business and Fine business. The Emulsion business manufactures and sells products such as waterproofing materials, adhesives, and tackifiers for construction, civil engineering, and various industries. It uses synthetic rubber latex and acrylic emulsions as its main raw materials, and utilizes our core emulsion polymerization technology and compounding technology to combine emulsions and other materials to achieve high functionality. The Fine business manufactures raw material polymers for electronic materials and display materials.

We believe that ETEC’s strength in resins for adhesives and coatings and polymers for waterproofing and construction will contribute to the further enhancement of corporate value in the construction chemicals field of NIPPON SHOKUBAI Group’s Industrial & Household business and have reached an agreement to transfer ETETC’s shares to NIPPON SHOKUBAI Group.

The share transfer is scheduled for April 1, 2025.