Sep. 26, 2019
Kumiai Chemical Industry Co., Ltd. and Corteva Agriscience (“Corteva”) entered into an agreement on September 6, 2019 regarding the transfer of the Bensulfuron-Methyl business in Asia Pacific Countries, excluding China, from Corteva to Kumiai Chemical. The agreement is expected to close in late September/early October and both Corteva and Kumiai are committed to working together to ensure the smooth transition of the business.
Bensulfuron-Methyl is a broad spectrum systemic herbicide which can control a wide range of broad leaf weeds and sedges in both of transplanted rice and direct seeded rice, and, distributed in Japan, India and other rice-growing countries under several brands including Londax® and Londax Power®. Kumiai Chemical is one of the first developers of Bensulfuron-Methyl containing products in Japan and distributing such products under several brands including Topgun® and Wolf-Ace®.
In its medium-term business plan for FY 2018 through FY 2020, Kumiai Chemical as a group has, with the aim of becoming “a strong corporate group that can grow sustainably into the future”, set a net sales target of JPY 116 billion for FY 2020, and JPY 140 billion or greater for FY 2022 in its post-medium-term business plan through non-linear growth. Kumiai Chemical will further reinforce its product portfolio and strengthen competitiveness in the market through the acquisition of the Bensulfuron-Methyl business.