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Tomen Completed Acquisition of Nichimen's Life Science Subsidiary On Course to Form Japan's Most Highly Functional Company in the Field

2001-02-09

Tomen Corporation today announced that Arysta LifeScience NM Corporation, Tomen's life science business subsidiary, completed the acquisition of 100% shares of Nichimen AgriMart Corporation. Nichimen AgriMart Corporation is a life science business subsidiary of Nichimen Corporation. The amount of the acquisition is valued at 27 billion yen.

This is the first development following an agreement of January 9, 2001 between Tomen and Nichimen to spin off their life science businesses and to make a new entity to create Japan's most highly functional company specializing in the field. Nichimen will hold 40% of the shares of the new entity, and the majority of the shares will be held by Tomen group and their strategic partners. The new president will come from Tomen. The new entity, which will have 130 employees and 1,400 employees including its affiliated companies, will be a consolidated subsidiary of Tomen.

The new entity, which aims to start its operation in April 2001, includes agrochemicals, pharmaceuticals, veterinary medicines and biotechnology businesses. It brings together strengths from each company in upstream and downstream in the agrochemical market such as R&D, registration, production, and marketing and sales worldwide.

Tomen established its 100% subsidiary Arysta LifeScience NM Corporation as the first step in creating the new entity. Nichimen AgriMart Corp. was a 100% subsidiary of Nichimen which integrated its life science business having 52 employees and capital of 250 million yen. Its sales transaction of the year ended March 31, 2000 was 66,297 million yen and the ordinary profit was 2,556 million yen.

About Tomen Corporation (www.tomen.co.jp)
Tomen, which is ranked seventh among Japan's giant trading companies, is listed on the Tokyo, Osaka and Nagoya stock exchanges. With 80 offices around the world, Tomen is also considered by Fortune magazine to be the 145th largest global company in terms of revenue. It maintains a leadership position in its core businesses including power generation, grain, agro-chemicals, telecommunication and textiles. In July 1999, Tomen received its ISO14001 certification, which is the highest level of international standard that specifies the requirements of an environmental management system.

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