According to the company’s website press release on December 26, 2022, Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Kenichi Hori) has agreed with Sumitomo Pharma Co., Ltd. (Head Office: Osaka, Japan; Representative Director, President and CEO: Hiroshi Nomura) to acquire all shares in Sumitomo Pharma Animal Health Co., Ltd. ("Sumitomo Pharma AH"), a Japanese animal health company. Sumitomo Pharma AH leverages its advanced product development capabilities accumulated as a subsidiary of a pharmaceutical manufacturer to develop, manufacture, and sell veterinary medicines for companion animals and livestock, especially in Japan.
Currently worth over ¥4 trillion, the global market for medicines and vaccines used in the animal health field is growing by 4% annually, against the backdrop of a steady increase in demand for protain and the expansion of companion animal populations, especially in emerging countries. The Japanese animal health market is the sixth largest in the world. In addition to firm growth in the Japanese livestock market, longer life spans for dogs, cats, and other companion animals, as well as an increasing tendency to treat these animals as family members generate a 8% annual growth rate, contributing significantly to the overall growth of the animal health market. Sumitomo Pharma AH, which has a robust nationwide network, is helping to meet increasingly sophisticated needs in this market while engaging in product development activities.
Mitsui has identified the animal health business as a focus area. It established the Nutrition & Agriculture Business Unit in 2016 and invested in Ceva Santé Animale SA, the world's fifth-ranked animal health company in France, in 2020, and in the Brazilian company Ouro Fino Saúde Animal Participações S.A. in 2022.
Using Sumitomo Pharma AH as a business base in Japan, Mitsui will accelerate the introduction of foreign products and product and license exporting. In addition to these activities, Mitsui will also contribute to the growth of the global animal health industry by creating synergies with its wide-ranging business assets, including its animal nutrition business, and with its global networks.
Mitsui’s Materiality
“Build brighter futures, everywhere” as our corporate mission, and to gain the trust and expectations of our stakeholders to realize a better tomorrow for earth and for people around the world, we have identified five material issues (“Materiality”) for Mitsui’s sustainable growth. We anticipate this particular project/ business to contribute especially to the realization of “Secure sustainable supply of essential products” and “Enhance quality of life”
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements.
This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.
The information contained in this release is true and accurate at the time of publication; however, it may be subject to change without prior notice.
Mitsui & Co., Ltd.
Corporate Communications Division
Telephone: +81-80-5912-0321
Facsimile: +81-3-3285-9819
