Asahi Kasei has completed a transfer of the container business (Container Business) of its wholly owned subsidiary Asahi Kasei Pax Corp., concluded an agreement for the transfer of the company's film business (Film Business), and decided to liquidate Asahi Kasei Pax.

On October 1, 2023, Asahi Kasei transferred the Container Business to RP Topla Limited and relocated the headquarters of Asahi Kasei Pax. The manufacturing facility of the Container Business, the Ono Plant, located in Hyogo Prefecture, Japan, ceased operation on September 30, 2023.

Asahi Kasei earlier concluded a final agreement on splitting the Film Business into a separate company (incorporation-type company split) and transferring 90% of its shares to Sumitomo Bakelite Co., Ltd. Under the agreement, the rights and obligations related to the Film Business are to succeed to a subsidiary established through a company split (incorporation-type company split) effective April 1, 2024 (scheduled), with all shares allocated to Asahi Kasei, and 90% of the shares to be transferred from Asahi Kasei to Sumitomo Bakelite on the effective date.

With the transfers of the Container Business and the Film Business, Asahi Kasei has decided to liquidate Asahi Kasei Pax. Liquidation will be performed upon completion of dismantling of the Ono Plant.