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<item><link>http://www.alacrastore.com/storecontent/moodys/PR_157939_808797068</link><guid isPermaLink="false">moodys/PR_157939_808797068</guid><moodys:index_mode xmlns:moodys="http://www.alacra.com/moodys">html</moodys:index_mode><description>Global Credit Research Announcement ## JUN ####   Announcement: Mitsubishi Chemical Holdings Corporation Moody's: Negative Outlook for Japan's Integrated Chemical Industry Tokyo, June ##, #### -- According to a new report by Moody's...</description><pubDate>6/26/2008 12:33:14 AM</pubDate><moodys:format xmlns:moodys="http://www.alacra.com/moodys">html</moodys:format><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Mitsubishi Chemical Holdings Corporation</moodys:issuer><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Sumitomo Chemical Company, Limited</moodys:issuer><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Sumitomo Chemical (U.K.) plc</moodys:issuer><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Tosoh Corporation</moodys:issuer><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Mitsui Chemicals, Inc.</moodys:issuer><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Mitsubishi Chemical Corporation</moodys:issuer><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Asahi Kasei Corporation</moodys:issuer><moodys:issuer_list xmlns:moodys="http://www.alacra.com/moodys">Asahi Kasei Corporation; Mitsubishi Chemical Corporation; ...</moodys:issuer_list><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">808797068</moodys:org_id><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">723348</moodys:org_id><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">704750</moodys:org_id><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">2752</moodys:org_id><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">2497</moodys:org_id><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">223700</moodys:org_id><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">2091</moodys:org_id><moodys:price xmlns:moodys="http://www.alacra.com/moodys">150.0000</moodys:price><moodys:report_class xmlns:moodys="http://www.alacra.com/moodys">News</moodys:report_class><moodys:report_type xmlns:moodys="http://www.alacra.com/moodys">Announcement</moodys:report_type><title>Moody's: Negative Outlook for Japan's Integrated Chemical Industry</title><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">PR_157939_808797068</moodys:docid><category>Credit &amp; Investment Research</category><alacra:ip>Moody's Global Credit Research</alacra:ip></item><item><title>Tosoh Corp acquires a minority stake in Nippon Polyurethane Ind Co Ltd (pending)</title><description>JAPAN - Tosoh Corp agreed to raise its interest to ##.#% from ##.#%, by acquiring a ##.#% stake in Nippon Polyurethane Industry Co Ltd, a manufacturer and seller of polyurethane resin ingredients, for #.### bil Japanese yen ($##.### mil), from its shareholder Hodogaya Chemical Co Ltd.</description><pubDate>5/13/2008 2:13:05 PM</pubDate><sdc:company_cusip xmlns:sdc="http://www.alacra.com/sdc">89149Y</sdc:company_cusip><sdc:target_company_cusip xmlns:sdc="http://www.alacra.com/sdc">65466Z</sdc:target_company_cusip><sdc:company_cusip_up xmlns:sdc="http://www.alacra.com/sdc">89149Y</sdc:company_cusip_up><sdc:target_company_cusip_up xmlns:sdc="http://www.alacra.com/sdc">89149Y</sdc:target_company_cusip_up><sdc:company xmlns:sdc="http://www.alacra.com/sdc">Tosoh Corp</sdc:company><sdc:target_company xmlns:sdc="http://www.alacra.com/sdc">Nippon Polyurethane Industry Co Ltd</sdc:target_company><sdc:company_up xmlns:sdc="http://www.alacra.com/sdc">Tosoh Corp</sdc:company_up><sdc:target_company_up xmlns:sdc="http://www.alacra.com/sdc">Tosoh Corp</sdc:target_company_up><link>http://www.alacrastore.com/storecontent/Thomson_M%26A/Tosoh_Corp_acquires_a_minority_stake_in_Nippon_Polyurethane_Ind_Co_Ltd-1976654040</link><guid isPermaLink="false">sdc/1976654040</guid><sdc:deal xmlns:sdc="http://www.alacra.com/sdc"><sdc:deal_no>1976654040</sdc:deal_no><sdc:_copyright><sdc:value>Copyright Â© 2008, Thomson Financial, All Rights Reserved</sdc:value></sdc:_copyright><sdc:a_EXCHANGE><sdc:value>Tokyo 1</sdc:value></sdc:a_EXCHANGE><sdc:a_MAINDUSTRY><sdc:value>Chemicals and Allied Products</sdc:value></sdc:a_MAINDUSTRY><sdc:a_NATION><sdc:value>Japan</sdc:value></sdc:a_NATION><sdc:a_SICDESC><sdc:value>Industrial organic chemicals, 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sdc:p="2">2821:Plastics materials and synthetic resins</sdc:value><sdc:value sdc:p="3">2869:Industrial organic chemicals, nec</sdc:value><sdc:value sdc:p="4">2899:Chemicals and chemical preparations, nec</sdc:value><sdc:value sdc:p="5">4214:Local trucking with storage</sdc:value><sdc:value sdc:p="6">4491:Marine cargo handling</sdc:value></sdc:aupsic_SIC><sdc:b_MAINDUSTRY><sdc:value>Chemicals and Allied Products</sdc:value></sdc:b_MAINDUSTRY><sdc:b_NATION><sdc:value>Japan</sdc:value></sdc:b_NATION><sdc:b_SICDESC><sdc:value>Plastics materials and synthetic resins</sdc:value></sdc:b_SICDESC><sdc:b_SICPI><sdc:value>2821</sdc:value></sdc:b_SICPI><sdc:b_STATE><sdc:value>FF</sdc:value></sdc:b_STATE><sdc:b_STATELONG><sdc:value>Foreign</sdc:value></sdc:b_STATELONG><sdc:b_STATUS><sdc:value>Subsidiary</sdc:value></sdc:b_STATUS><sdc:c_ACIDGEN><sdc:value>6066001</sdc:value></sdc:c_ACIDGEN><sdc:c2up_BUSS><sdc:value>Mnfr,whl alkalies,chlorine</sdc:value></sdc:c2up_BUSS><sdc:c3up_BUSS><sdc:value>Mnfr,whl alkalies,chlorine</sdc:value></sdc:c3up_BUSS><sdc:co_DESCR><sdc:value sdc:p="0">Cash</sdc:value><sdc:value sdc:p="1">Cash Only</sdc:value></sdc:co_DESCR><sdc:cs_DESCR><sdc:value>Stock</sdc:value></sdc:cs_DESCR><sdc:d_TCIDGEN><sdc:value>346521003</sdc:value></sdc:d_TCIDGEN><sdc:date_lastupdate><sdc:value>May 13 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sdc:p="0">1.00000</sdc:value><sdc:value sdc:p="1">2.00000</sdc:value><sdc:value sdc:p="2">3.00000</sdc:value><sdc:value sdc:p="3">4.00000</sdc:value><sdc:value sdc:p="4">5.00000</sdc:value><sdc:value sdc:p="5">6.00000</sdc:value><sdc:value sdc:p="6">7.00000</sdc:value><sdc:value sdc:p="7">8.00000</sdc:value><sdc:value sdc:p="8">9.00000</sdc:value><sdc:value sdc:p="9">10.00000</sdc:value><sdc:value sdc:p="10">11.00000</sdc:value><sdc:value sdc:p="11">12.00000</sdc:value><sdc:value sdc:p="12">13.00000</sdc:value><sdc:value sdc:p="13">14.00000</sdc:value><sdc:value sdc:p="14">15.00000</sdc:value><sdc:value sdc:p="15">16.00000</sdc:value><sdc:value sdc:p="16">17.00000</sdc:value><sdc:value sdc:p="17">18.00000</sdc:value><sdc:value sdc:p="18">19.00000</sdc:value><sdc:value sdc:p="19">20.00000</sdc:value><sdc:value sdc:p="20">21.00000</sdc:value><sdc:value sdc:p="21">22.00000</sdc:value><sdc:value sdc:p="22">23.00000</sdc:value><sdc:value sdc:p="23">24.00000</sdc:value><sdc:value sdc:p="24">25.00000</sdc:value><sdc:value sdc:p="25">26.00000</sdc:value><sdc:value sdc:p="26">27.00000</sdc:value></sdc:g_SEQ><sdc:g_TEST><sdc:value sdc:p="0">Tosoh Corp is headquartered in</sdc:value><sdc:value sdc:p="1">Tokyo, Japan, with actual head</sdc:value><sdc:value sdc:p="2">office in Yamaguchi, Japan.</sdc:value><sdc:value sdc:p="3">The company's principal</sdc:value><sdc:value sdc:p="4">activities are the manufacture</sdc:value><sdc:value sdc:p="5">and sale of basic chemicals,</sdc:value><sdc:value sdc:p="6">petrochemicals and functional</sdc:value><sdc:value sdc:p="7">products. The operations are</sdc:value><sdc:value sdc:p="8">carried out through the</sdc:value><sdc:value sdc:p="9">following divisions:</sdc:value><sdc:value sdc:p="10">Petrochemicals division deals</sdc:value><sdc:value sdc:p="11">with ethylene, propylene,</sdc:value><sdc:value sdc:p="12">polyethylene and ethylene</sdc:value><sdc:value sdc:p="13">vinyl acetate; Basic Materials</sdc:value><sdc:value sdc:p="14">division deals with caustic</sdc:value><sdc:value sdc:p="15">soda, vinyl chloride monomer</sdc:value><sdc:value sdc:p="16">and cement; Functional</sdc:value><sdc:value sdc:p="17">products division deals with</sdc:value><sdc:value sdc:p="18">organic intermediates, flame</sdc:value><sdc:value sdc:p="19">retardants, scientific</sdc:value><sdc:value sdc:p="20">instruments and specialty</sdc:value><sdc:value sdc:p="21">materials and Services</sdc:value><sdc:value sdc:p="22">division deals with</sdc:value><sdc:value sdc:p="23">transportation, warehousing,</sdc:value><sdc:value sdc:p="24">maintenance and inspection of</sdc:value><sdc:value sdc:p="25">plants, real estate. The</sdc:value><sdc:value sdc:p="26">company was founded in 1935.</sdc:value></sdc:g_TEST><sdc:g_business><sdc:value sdc:p="0">Tosoh Corp is headquartered in Tokyo, Japan, with actual</sdc:value><sdc:value sdc:p="1">head office in Yamaguchi, Japan. The company's principal</sdc:value><sdc:value sdc:p="2">activities are the manufacture and sale of basic chemicals,</sdc:value><sdc:value sdc:p="3">petrochemicals and functional products. The operations are</sdc:value><sdc:value sdc:p="4">carried out through the following divisions: Petrochemicals</sdc:value><sdc:value sdc:p="5">division deals with ethylene, propylene, polyethylene and</sdc:value><sdc:value sdc:p="6">ethylene vinyl acetate; Basic Materials division deals with</sdc:value><sdc:value sdc:p="7">caustic soda, vinyl chloride monomer and cement; Functional</sdc:value><sdc:value sdc:p="8">products division deals with organic intermediates, flame</sdc:value><sdc:value sdc:p="9">retardants, scientific instruments and specialty materials</sdc:value><sdc:value sdc:p="10">and Services division deals with transportation,</sdc:value><sdc:value sdc:p="11">warehousing, maintenance and inspection of plants, real</sdc:value><sdc:value sdc:p="12">estate. The company was founded in 1935.</sdc:value></sdc:g_business><sdc:g_business1><sdc:value>Tosoh Corp is headquartered in Tokyo, Japan, with actual head office in Yamaguchi, Japan. The company's principal activities are the manufacture and sale of basic chemicals, petrochemicals and functional products. The operations are carried out through the following divisions: Petrochemicals division deals with ethylene, propylene, polyethylene and ethylene vinyl acetate; Basic Materials division deals with caustic soda, vinyl chloride monomer and cement; Functional products division deals with organic intermediates, flame retardants, scientific instruments and specialty materials and Services division deals with transportation, warehousing, maintenance and inspection of plants, real estate. The company was founded in 1935.</sdc:value></sdc:g_business1><sdc:h_SEQ><sdc:value sdc:p="0">1.00000</sdc:value><sdc:value sdc:p="1">2.00000</sdc:value><sdc:value sdc:p="2">3.00000</sdc:value><sdc:value sdc:p="3">4.00000</sdc:value><sdc:value sdc:p="4">5.00000</sdc:value><sdc:value sdc:p="5">6.00000</sdc:value><sdc:value sdc:p="6">7.00000</sdc:value><sdc:value sdc:p="7">8.00000</sdc:value><sdc:value sdc:p="8">9.00000</sdc:value><sdc:value sdc:p="9">10.00000</sdc:value></sdc:h_SEQ><sdc:h_TEST><sdc:value sdc:p="0">Nippon Polyurethane Industry</sdc:value><sdc:value sdc:p="1">Co Ltd is headquartered in</sdc:value><sdc:value sdc:p="2">Tokyo, Japan. The company's</sdc:value><sdc:value sdc:p="3">main business includes to</sdc:value><sdc:value sdc:p="4">manufacture and sale of</sdc:value><sdc:value sdc:p="5">polyurethane resin</sdc:value><sdc:value sdc:p="6">ingredients, and</sdc:value><sdc:value sdc:p="7">polyurethane-induced products.</sdc:value><sdc:value sdc:p="8">The company was founded in</sdc:value><sdc:value sdc:p="9">1960.</sdc:value></sdc:h_TEST><sdc:h_business><sdc:value sdc:p="0">Nippon Polyurethane Industry Co Ltd is headquartered in</sdc:value><sdc:value sdc:p="1">Tokyo, Japan. The company's main business includes to</sdc:value><sdc:value sdc:p="2">manufacture and sale of polyurethane resin ingredients, and</sdc:value><sdc:value sdc:p="3">polyurethane-induced products. The company was founded in</sdc:value><sdc:value sdc:p="4">1960.</sdc:value></sdc:h_business><sdc:h_business1><sdc:value>Nippon Polyurethane Industry Co Ltd is headquartered in Tokyo, Japan. The company's main business includes to manufacture and sale of polyurethane resin ingredients, and polyurethane-induced products. The company was founded in 1960.</sdc:value></sdc:h_business1><sdc:i_AFEEPCT><sdc:value>0.00000</sdc:value></sdc:i_AFEEPCT><sdc:i_AFEETOT><sdc:value>0.00000</sdc:value></sdc:i_AFEETOT><sdc:i_ATERMFEE><sdc:value>0.00000</sdc:value></sdc:i_ATERMFEE><sdc:i_COMOUT><sdc:value>0.00000</sdc:value></sdc:i_COMOUT><sdc:i_CROSS1><sdc:value>N</sdc:value></sdc:i_CROSS1><sdc:i_CURRENCYLONG><sdc:value>Japanese Yen</sdc:value></sdc:i_CURRENCYLONG><sdc:i_DATEANN><sdc:value>09 May 08</sdc:value></sdc:i_DATEANN><sdc:i_DATEANN2><sdc:value>Fri, 09 May 2008 00:00:00 EST</sdc:value></sdc:i_DATEANN2><sdc:i_DATEANNS><sdc:value>Date Announced: 05/09/2008</sdc:value></sdc:i_DATEANNS><sdc:i_DATEEFFS><sdc:value>Date Effective:</sdc:value></sdc:i_DATEEFFS><sdc:i_DESCR><sdc:value>Acq. Part. Int.</sdc:value></sdc:i_DESCR><sdc:i_DESCR1><sdc:value>Neutral</sdc:value></sdc:i_DESCR1><sdc:i_FEEPCT><sdc:value>0.00000</sdc:value></sdc:i_FEEPCT><sdc:i_FEETOT><sdc:value>0.00000</sdc:value></sdc:i_FEETOT><sdc:i_HOSTAFEETOT><sdc:value>0.00000</sdc:value></sdc:i_HOSTAFEETOT><sdc:i_HOSTENTVAL><sdc:value>0.00000</sdc:value></sdc:i_HOSTENTVAL><sdc:i_HOSTFEETOT><sdc:value>0.00000</sdc:value></sdc:i_HOSTFEETOT><sdc:i_HOSTPR><sdc:value>0.00000</sdc:value></sdc:i_HOSTPR><sdc:i_HOSTPRLABEL><sdc:value>Price/Share</sdc:value></sdc:i_HOSTPRLABEL><sdc:i_HOSTTFEETOT><sdc:value>0.00000</sdc:value></sdc:i_HOSTTFEETOT><sdc:i_HOSTVALUE><sdc:value>9785 Japanese Yen</sdc:value></sdc:i_HOSTVALUE><sdc:i_HOSTVALUE1><sdc:value>9785.00000</sdc:value></sdc:i_HOSTVALUE1><sdc:i_HOST_EQVAL><sdc:value>0.00000</sdc:value></sdc:i_HOST_EQVAL><sdc:i_HOST_RANKVAL><sdc:value>9785 Japanese Yen</sdc:value></sdc:i_HOST_RANKVAL><sdc:i_HOST_RANKVAL1><sdc:value>9785.00000</sdc:value></sdc:i_HOST_RANKVAL1><sdc:i_PCTACQ><sdc:value>0.00000</sdc:value></sdc:i_PCTACQ><sdc:i_PCTOWN><sdc:value>0.00000</sdc:value></sdc:i_PCTOWN><sdc:i_PR><sdc:value>0.00000</sdc:value></sdc:i_PR><sdc:i_PR_INITIAL><sdc:value>0.00000</sdc:value></sdc:i_PR_INITIAL><sdc:i_RANKVAL><sdc:value>9785.00000</sdc:value></sdc:i_RANKVAL><sdc:i_RANK_HOSTRANKVAL><sdc:value>9785 Japanese Yen</sdc:value></sdc:i_RANK_HOSTRANKVAL><sdc:i_RATE><sdc:value>0.01000</sdc:value></sdc:i_RATE><sdc:i_STATUS_MMC><sdc:value>N</sdc:value></sdc:i_STATUS_MMC><sdc:i_STGVAL><sdc:value>48.70000</sdc:value></sdc:i_STGVAL><sdc:i_TERMFEE><sdc:value>0.00000</sdc:value></sdc:i_TERMFEE><sdc:i_TFEEPCT><sdc:value>0.00000</sdc:value></sdc:i_TFEEPCT><sdc:i_TFEETOT><sdc:value>0.00000</sdc:value></sdc:i_TFEETOT><sdc:i_TTERMFEE><sdc:value>0.00000</sdc:value></sdc:i_TTERMFEE><sdc:i_VALLIA><sdc:value>0.00000</sdc:value></sdc:i_VALLIA><sdc:i_VALNOLIA><sdc:value>95.14900</sdc:value></sdc:i_VALNOLIA><sdc:i_VALUE><sdc:value>95.14900</sdc:value></sdc:i_VALUE><sdc:j_EQVALCF><sdc:value>0.00000</sdc:value></sdc:j_EQVALCF><sdc:j_EVCF><sdc:value>0.00000</sdc:value></sdc:j_EVCF><sdc:j_EVEBIT><sdc:value>0.00000</sdc:value></sdc:j_EVEBIT><sdc:j_EVNI><sdc:value>0.00000</sdc:value></sdc:j_EVNI><sdc:j_EVSALES><sdc:value>0.00000</sdc:value></sdc:j_EVSALES><sdc:j_MPRICEBOOK><sdc:value>0.00000</sdc:value></sdc:j_MPRICEBOOK><sdc:j_PHELD><sdc:value>51.66700</sdc:value></sdc:j_PHELD><sdc:j_PSOUGHT><sdc:value>28.61100</sdc:value></sdc:j_PSOUGHT><sdc:j_RANKVALCF><sdc:value>0.00000</sdc:value></sdc:j_RANKVALCF><sdc:j_RANKVALEB><sdc:value>0.00000</sdc:value></sdc:j_RANKVALEB><sdc:j_RANKVALNA><sdc:value>0.00000</sdc:value></sdc:j_RANKVALNA><sdc:j_RANKVALNI><sdc:value>0.00000</sdc:value></sdc:j_RANKVALNI><sdc:j_RANKVALSALES><sdc:value>0.00000</sdc:value></sdc:j_RANKVALSALES><sdc:j_VALEB><sdc:value>0.00000</sdc:value></sdc:j_VALEB><sdc:j_VALNI><sdc:value>0.00000</sdc:value></sdc:j_VALNI><sdc:j_VALSALES><sdc:value>0.00000</sdc:value></sdc:j_VALSALES><sdc:m_AMV><sdc:value>2048.76000</sdc:value></sdc:m_AMV><sdc:m_CF3YGR><sdc:value>0.00000</sdc:value></sdc:m_CF3YGR><sdc:m_CF5YGR><sdc:value>0.00000</sdc:value></sdc:m_CF5YGR><sdc:m_DCR><sdc:value>0.00000</sdc:value></sdc:m_DCR><sdc:m_ENTVAL><sdc:value>0.00000</sdc:value></sdc:m_ENTVAL><sdc:m_EPS3YGR><sdc:value>0.00000</sdc:value></sdc:m_EPS3YGR><sdc:m_EPS5YGR><sdc:value>0.00000</sdc:value></sdc:m_EPS5YGR><sdc:m_LTD><sdc:value>0.00000</sdc:value></sdc:m_LTD><sdc:m_MV><sdc:value>0.00000</sdc:value></sdc:m_MV><sdc:m_NETASS><sdc:value>0.00000</sdc:value></sdc:m_NETASS><sdc:m_NETASS3YGR><sdc:value>0.00000</sdc:value></sdc:m_NETASS3YGR><sdc:m_NETASS5YGR><sdc:value>0.00000</sdc:value></sdc:m_NETASS5YGR><sdc:m_NI3YGR><sdc:value>0.00000</sdc:value></sdc:m_NI3YGR><sdc:m_NI5YGR><sdc:value>0.00000</sdc:value></sdc:m_NI5YGR><sdc:n_SEQ><sdc:value sdc:p="0">1.00000</sdc:value><sdc:value sdc:p="1">2.00000</sdc:value><sdc:value sdc:p="2">3.00000</sdc:value><sdc:value sdc:p="3">4.00000</sdc:value><sdc:value sdc:p="4">5.00000</sdc:value><sdc:value sdc:p="5">6.00000</sdc:value><sdc:value sdc:p="6">7.00000</sdc:value><sdc:value sdc:p="7">8.00000</sdc:value><sdc:value sdc:p="8">9.00000</sdc:value><sdc:value sdc:p="9">10.00000</sdc:value><sdc:value sdc:p="10">11.00000</sdc:value></sdc:n_SEQ><sdc:n_SYNOPSIS><sdc:value sdc:p="0">JAPAN - Tosoh Corp agreed to</sdc:value><sdc:value sdc:p="1">raise its interest to 80.3%</sdc:value><sdc:value sdc:p="2">from 51.7%, by acquiring a</sdc:value><sdc:value sdc:p="3">28.6% stake in Nippon</sdc:value><sdc:value sdc:p="4">Polyurethane Industry Co Ltd,</sdc:value><sdc:value sdc:p="5">a manufacturer and seller of</sdc:value><sdc:value sdc:p="6">polyurethane resin</sdc:value><sdc:value sdc:p="7">ingredients, for 9.785 bil</sdc:value><sdc:value sdc:p="8">Japanese yen ($95.149 mil),</sdc:value><sdc:value sdc:p="9">from its shareholder Hodogaya</sdc:value><sdc:value sdc:p="10">Chemical Co Ltd.</sdc:value></sdc:n_SYNOPSIS><sdc:n_synopsis2><sdc:value>JAPAN - Tosoh Corp agreed to raise its interest to 80.3% from 51.7%, by acquiring a 28.6% stake in Nippon Polyurethane Industry Co Ltd, a manufacturer and seller of polyurethane resin ingredients, for 9.785 bil Japanese yen ($95.149 mil), from its shareholder Hodogaya Chemical Co Ltd.</sdc:value></sdc:n_synopsis2><sdc:n_synopsis3><sdc:value sdc:p="0">JAPAN - Tosoh Corp agreed to raise its interest to 80.3% from 51.7%, by acquiring a 28.6%</sdc:value><sdc:value sdc:p="1">stake in Nippon Polyurethane Industry Co Ltd, a manufacturer and seller of polyurethane</sdc:value><sdc:value sdc:p="2">resin ingredients, for 9.785 bil Japanese yen ($95.149 mil), from its shareholder Hodogaya</sdc:value><sdc:value sdc:p="3">Chemical Co Ltd.</sdc:value></sdc:n_synopsis3><sdc:n_synopsis4><sdc:value sdc:p="0">JAPAN - Tosoh Corp agreed to raise its interest to 80.3% from 51.7%, by acquiring a 28.6% stake in Nippon Polyurethane Industry Co Ltd, a manufacturer and seller of polyurethane resin ingredients, for</sdc:value><sdc:value sdc:p="1">9.785 bil Japanese yen ($95.149 mil), from its shareholder Hodogaya Chemical Co Ltd.</sdc:value></sdc:n_synopsis4><sdc:n_synopsis5><sdc:value sdc:p="0">JAPAN - Tosoh Corp agreed to raise its interest to 80.3% from 51.7%, by acquiring a 28.6% stake in Nippon Polyurethane Industry Co Ltd, a</sdc:value><sdc:value sdc:p="1">manufacturer and seller of polyurethane resin ingredients, for 9.785 bil Japanese yen ($95.149 mil), from its shareholder Hodogaya</sdc:value><sdc:value sdc:p="2">Chemical Co Ltd.</sdc:value></sdc:n_synopsis5><sdc:q_DESCR><sdc:value>Pending</sdc:value></sdc:q_DESCR><sdc:q_HOSTANETASS><sdc:value>0.00000</sdc:value></sdc:q_HOSTANETASS><sdc:q_HOSTANILTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTANILTM><sdc:q_HOSTASALESLTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTASALESLTM><sdc:q_HOSTATASS><sdc:value>0.00000</sdc:value></sdc:q_HOSTATASS><sdc:q_HOSTBOOKVALUE><sdc:value>0.00000</sdc:value></sdc:q_HOSTBOOKVALUE><sdc:q_HOSTCASHFLOW><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW><sdc:q_HOSTCASHFLOW1><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW1><sdc:q_HOSTCASHFLOW2><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW2><sdc:q_HOSTCASHFLOW3><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW3><sdc:q_HOSTCASHFLOW4><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW4><sdc:q_HOSTCASHFLOW5><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW5><sdc:q_HOSTCOMMONEQUITY><sdc:value>0.00000</sdc:value></sdc:q_HOSTCOMMONEQUITY><sdc:q_HOSTEBITLTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTEBITLTM><sdc:q_HOSTEPS1><sdc:value>0.00000</sdc:value></sdc:q_HOSTEPS1><sdc:q_HOSTEPS2><sdc:value>0.00000</sdc:value></sdc:q_HOSTEPS2><sdc:q_HOSTEPS3><sdc:value>0.00000</sdc:value></sdc:q_HOSTEPS3><sdc:q_HOSTEPS4><sdc:value>0.00000</sdc:value></sdc:q_HOSTEPS4><sdc:q_HOSTEPS5><sdc:value>0.00000</sdc:value></sdc:q_HOSTEPS5><sdc:q_HOSTEPSLTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTEPSLTM><sdc:q_HOSTNETASS><sdc:value>0.00000</sdc:value></sdc:q_HOSTNETASS><sdc:q_HOSTNETASS1><sdc:value>0.00000</sdc:value></sdc:q_HOSTNETASS1><sdc:q_HOSTNETASS2><sdc:value>0.00000</sdc:value></sdc:q_HOSTNETASS2><sdc:q_HOSTNETASS3><sdc:value>0.00000</sdc:value></sdc:q_HOSTNETASS3><sdc:q_HOSTNETASS4><sdc:value>0.00000</sdc:value></sdc:q_HOSTNETASS4><sdc:q_HOSTNETASS5><sdc:value>0.00000</sdc:value></sdc:q_HOSTNETASS5><sdc:q_HOSTNI1><sdc:value>0.00000</sdc:value></sdc:q_HOSTNI1><sdc:q_HOSTNI2><sdc:value>0.00000</sdc:value></sdc:q_HOSTNI2><sdc:q_HOSTNI3><sdc:value>0.00000</sdc:value></sdc:q_HOSTNI3><sdc:q_HOSTNI4><sdc:value>0.00000</sdc:value></sdc:q_HOSTNI4><sdc:q_HOSTNI5><sdc:value>0.00000</sdc:value></sdc:q_HOSTNI5><sdc:q_HOSTNILTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTNILTM><sdc:q_HOSTPTINC1><sdc:value>0.00000</sdc:value></sdc:q_HOSTPTINC1><sdc:q_HOSTPTINC2><sdc:value>0.00000</sdc:value></sdc:q_HOSTPTINC2><sdc:q_HOSTPTINC3><sdc:value>0.00000</sdc:value></sdc:q_HOSTPTINC3><sdc:q_HOSTPTINC4><sdc:value>0.00000</sdc:value></sdc:q_HOSTPTINC4><sdc:q_HOSTPTINC5><sdc:value>0.00000</sdc:value></sdc:q_HOSTPTINC5><sdc:q_HOSTPTINCLTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTPTINCLTM><sdc:q_HOSTSALES1><sdc:value>0.00000</sdc:value></sdc:q_HOSTSALES1><sdc:q_HOSTSALES2><sdc:value>0.00000</sdc:value></sdc:q_HOSTSALES2><sdc:q_HOSTSALES3><sdc:value>0.00000</sdc:value></sdc:q_HOSTSALES3><sdc:q_HOSTSALES4><sdc:value>0.00000</sdc:value></sdc:q_HOSTSALES4><sdc:q_HOSTSALES5><sdc:value>0.00000</sdc:value></sdc:q_HOSTSALES5><sdc:q_HOSTSALESLTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTSALESLTM><sdc:q_HOSTTASS><sdc:value>0.00000</sdc:value></sdc:q_HOSTTASS><sdc:q_HOSTTASS1><sdc:value>0.00000</sdc:value></sdc:q_HOSTTASS1><sdc:q_HOSTTASS2><sdc:value>0.00000</sdc:value></sdc:q_HOSTTASS2><sdc:q_HOSTTASS3><sdc:value>0.00000</sdc:value></sdc:q_HOSTTASS3><sdc:q_HOSTTASS4><sdc:value>0.00000</sdc:value></sdc:q_HOSTTASS4><sdc:q_HOSTTASS5><sdc:value>0.00000</sdc:value></sdc:q_HOSTTASS5><sdc:q_STATUS><sdc:value>Status:Pending</sdc:value></sdc:q_STATUS><sdc:r_PE><sdc:value>-999.00000</sdc:value></sdc:r_PE><sdc:r_PE_PRINT><sdc:value>np</sdc:value></sdc:r_PE_PRINT><sdc:r_PFTMARG><sdc:value>0.00000</sdc:value></sdc:r_PFTMARG><sdc:r_PRICEBOOK><sdc:value>-999.00000</sdc:value></sdc:r_PRICEBOOK><sdc:r_PRICEBOOK_PRINT><sdc:value>np</sdc:value></sdc:r_PRICEBOOK_PRINT><sdc:r_PTINC3YGR><sdc:value>0.00000</sdc:value></sdc:r_PTINC3YGR><sdc:r_PTINC5YGR><sdc:value>0.00000</sdc:value></sdc:r_PTINC5YGR><sdc:r_ROE><sdc:value>0.00000</sdc:value></sdc:r_ROE><sdc:r_SALES3YGR><sdc:value>0.00000</sdc:value></sdc:r_SALES3YGR><sdc:r_SALES5YGR><sdc:value>0.00000</sdc:value></sdc:r_SALES5YGR><sdc:r_SE><sdc:value>0.00000</sdc:value></sdc:r_SE><sdc:r_TASS3YGR><sdc:value>0.00000</sdc:value></sdc:r_TASS3YGR><sdc:r_TASS5YGR><sdc:value>0.00000</sdc:value></sdc:r_TASS5YGR><sdc:r_TTCFMULT><sdc:value>0.00000</sdc:value></sdc:r_TTCFMULT><sdc:r_TTEBITMULT><sdc:value>0.00000</sdc:value></sdc:r_TTEBITMULT><sdc:r_VALNA><sdc:value>0.00000</sdc:value></sdc:r_VALNA><sdc:sic_SIC><sdc:value>2821:Plastics materials and synthetic resins</sdc:value></sdc:sic_SIC><sdc:upa_UPACIDGEN><sdc:value>6066001</sdc:value></sdc:upa_UPACIDGEN><sdc:upa1_EXCHANGE><sdc:value>Tokyo 1</sdc:value></sdc:upa1_EXCHANGE><sdc:upa1_NATION><sdc:value>Japan</sdc:value></sdc:upa1_NATION><sdc:upa1_SICP><sdc:value>2869</sdc:value></sdc:upa1_SICP><sdc:upa1_STATE><sdc:value>Foreign</sdc:value></sdc:upa1_STATE><sdc:upa1_STATUS><sdc:value>Public</sdc:value></sdc:upa1_STATUS><sdc:upa1_TICKER><sdc:value>4042</sdc:value></sdc:upa1_TICKER><sdc:upsic_SIC><sdc:value sdc:p="0">2812:Alkalies and chlorine</sdc:value><sdc:value sdc:p="1">2819:Industrial inorganic chemicals, nec</sdc:value><sdc:value sdc:p="2">2821:Plastics materials and synthetic resins</sdc:value><sdc:value sdc:p="3">2869:Industrial organic chemicals, nec</sdc:value><sdc:value sdc:p="4">2899:Chemicals and chemical preparations, nec</sdc:value><sdc:value sdc:p="5">4214:Local trucking with storage</sdc:value><sdc:value sdc:p="6">4491:Marine cargo handling</sdc:value></sdc:upsic_SIC><sdc:upt_UPTCIDGEN><sdc:value>6066001</sdc:value></sdc:upt_UPTCIDGEN><sdc:upt1_EXCHANGE><sdc:value>Tokyo 1</sdc:value></sdc:upt1_EXCHANGE><sdc:upt1_NATION><sdc:value>Japan</sdc:value></sdc:upt1_NATION><sdc:upt1_SICP><sdc:value>2869</sdc:value></sdc:upt1_SICP><sdc:upt1_STATE><sdc:value>Foreign</sdc:value></sdc:upt1_STATE><sdc:upt1_STATUS><sdc:value>Public</sdc:value></sdc:upt1_STATUS><sdc:upt1_TICKER><sdc:value>4042</sdc:value></sdc:upt1_TICKER><sdc:x_RANK1_VALUE><sdc:value>95.14900</sdc:value></sdc:x_RANK1_VALUE><sdc:x_RANK_HOSTRANKVAL><sdc:value>9785.00000</sdc:value></sdc:x_RANK_HOSTRANKVAL><sdc:x_RANK_RANKVAL><sdc:value>95.14900</sdc:value></sdc:x_RANK_RANKVAL><sdc:x_rank_rankstgval><sdc:value>48.70000</sdc:value></sdc:x_rank_rankstgval></sdc:deal><category>Deal Information</category><alacra:ip>Thomson Financial Mergers &amp; Acquisitions</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/moodys/COP_2752</link><guid isPermaLink="false">moodys/COP_2752</guid><moodys:index_mode xmlns:moodys="http://www.alacra.com/moodys">html</moodys:index_mode><moodys:report_type xmlns:moodys="http://www.alacra.com/moodys">Credit Opinion</moodys:report_type><pubDate>1/3/2008 7:54:47 PM</pubDate><title>Tosoh Corporation</title><description>Global Credit Research Credit Opinion ## APR ####   Credit Opinion: Tosoh Corporation Tosoh Corporation Tokyo, Japan Ratings Category Moody's Rating Outlook Stable Issuer Rating Baa# Contacts Analyst Phone Noriko Kosaka/Tokyo ##.#.####.####...</description><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Tosoh Corporation</moodys:issuer><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">2752</moodys:org_id><moodys:price xmlns:moodys="http://www.alacra.com/moodys">150.0000</moodys:price><moodys:report_class xmlns:moodys="http://www.alacra.com/moodys">News</moodys:report_class><moodys:format xmlns:moodys="http://www.alacra.com/moodys">html</moodys:format><moodys:issuer_list xmlns:moodys="http://www.alacra.com/moodys">Tosoh Corporation</moodys:issuer_list><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">COP_2752</moodys:docid><category>Credit &amp; Investment Research</category><alacra:ip>Moody's Global Credit Research</alacra:ip></item></channel></rss>