Mitsubishi Chemical Group acquires Coregas, boosting industrial gas business

Mitsubishi Chemical Group Corporation (MCG) announced that Coregas Pty Ltd, an Australian industrial gas company, has become a specified subsidiary following its acquisition. The transaction was completed on July 1, 2025, through NSC (Australia) Pty Ltd, a subsidiary of Nippon Sanso Holdings Corporation (NSHD), an MCG consolidated subsidiary. NSHD acquired Coregas Pty Ltd, Blacksmith Jacks Pty Ltd, and Coregas NZ Limited from Wesfarmers Limited for approximately 71,521 million yen.

Coregas Pty Ltd, established in 1974, specializes in the manufacturing and sales of industrial gases in Australia. As of June 2025, it had AUD 174 million in capital, net assets of AUD 347 million, and total assets of AUD 424 million. The company reported AUD 241 million in revenue and AUD 34 million in operating profit for the fiscal year ended June 2025.

The reclassification of Coregas as a specified subsidiary results from its capital corresponding to 10% or more of MCG's capital, following a debt-to-equity conversion of liabilities to Wesfarmers upon acquisition. MCG anticipates that the impact of this acquisition has been incorporated into its full-year consolidated earnings forecast for the fiscal year ending March 2026, as announced on May 13, 2025.