TOKYO (dpa-AFX) - Japan's Mitsubishi Chemical Corp. (MTLHF.PK) Monday announced that 1,273 positions have been affected as part of its previously announced restructuring plans.
Under the Next-stage Support Program for employees announced in late September by its unit, the company said it now projects costs for structural reforms to be approximately 32 billion Japanese yen. In this, an estimated extraordinary loss of 27.7 billion yen was recorded in the first half of fiscal year ending in March of 2026. The remaining costs are expected to be calculated as an additional extraordinary loss during the fiscal year.
Mitsubishi Chemical added that it forecasts that the number of applicants corresponds to approximately 16 billion yen annually in reduced labor expenses.
The company noted that manager-level, full-time and reemployed employees who are aged 50 years or older and have worked for the Company for three or more years were involved in the Next-stage Support Program. The application period was from November 17 to November 28, 2025, and the date of retirement is end of February 2026.
The affected employees will be provided a lump-sum retirement payment and additional special payment. Reemployment support will be also provided upon request.
Meanwhile, employees engaged in manufacturing are excluded from the scope, in principle, the firm noted.
While the impact of this reduction on the March 2026 period is not significant, it has been factored into the consolidated performance forecast for the full year.
In Tokyo, Mitsubishi Chemical shares were trading at 861.60 yen, up 1.41%.
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