Mitsui Chemicals Announces Seven-Year Business Plan

Mitsui Chemicals has announced a business plan establishing targets for the company for 2017. Mitsui aims to quadruple operating profits from a forecast ¥35 billion ($417 million) for the year ending March 31, 2011 to about ¥150 billion in 2017. The plan also features restructuring, under which Mitsui intends to cut the number of employees at its Tokyo head office by 1,320, to 7,200 by 2015. The job cuts aim to save ¥20 billion in annualized labor costs. Mitsui says it aims to expand its five priority businesses: performance chemicals; agchems; functional...

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