Tosoh Corporation appoints new president

Japanese chemicals company Tosoh said it has appointed Mamoru Kuwada as its new president and representative director, effective March 1
.

Mamoru Kuwada is currently Executive Vice President of Tosoh Corporation and President of Tosoh's Specialty Materials Division
.
In his new role, Mamoru Kuwada succeeds Toshinori Yamamoto, who will become the company's corporate advisor after the annual general meeting in June
.

"The implementation of the company's mid-term business plan for fiscal 2023 will be overseen by the new management team, with the aim of further strengthening its earnings and business base for further growth," Tosoh said
.

Tosoh Corporation is a large chlor-alkali producer that supplies ethylene, polyethylene and functional polymers
.
It also has an advanced materials business serving the global semiconductor, display and solar industries
.

According to earlier reports, Tosoh, a large Japanese petrochemical producer, has announced that it will permanently stop the production and sale of toluene diisocyanate (TDI) and TDI-related products at its Nanyang plant in Japan, effective from April 2023
.
The company said the environment surrounding the business has become tougher in recent years with no prospects for improvement, despite ongoing measures to improve profitability
.
Tosoh's current TDI production capacity at this base is 25,000 tons/year
.

Tosoh's caustic soda plant in Nanyang City (Nanyang City, Yamaguchi Prefecture, Japan) resumed normal production on June 24, 2021, with an annual output of 1.
188 million tons of caustic soda and 1.
06 million tons of chlorine gas
.
The company encountered some technical issues when it restarted after an expected repair
.
Capacity utilization for caustic soda and chlorine has fallen by about 30% since June 12
.

Founded in 1935 and headquartered in Tokyo, Tosoh Corporation is an international chemical and specialty materials company
.
The company's main business is the production of chlor-alkali and petrochemicals, including ethylene, propylene, polypropylene, polyethylene and synthetic rubber
.
The Tosoh Group includes more than 130 companies worldwide, with production facilities and offices in Japan, China, the Philippines, Indonesia, Singapore, Taiwan, South Korea, Germany, Belgium, the Netherlands, Italy, the United Kingdom, Greece, Switzerland and the United States
.