Mitsubishi Chemical Corporation has decided to withdraw from the PET bottle business.

The company’s PET bottle business offers an array of products to meet various needs related mainly to the packaging of condiments and alcoholic beverages.

However, the business is experiencing significant pressure on its profitability from the recent sharp rise in raw material and logistics costs.

Despite its efforts to shore up the business by reducing fixed costs and other means, the company has decided to withdraw from the business after careful examination of the surrounding environment, on the ground that prospects for future improvement in profitability and growth are slim.