OREANDA-NEWS. March 09, 2012. Sumitomo Corporation (President and CEO: Susumu Kato, Headquarters: Chuo-ku, Tokyo, "Sumitomo") and Mitsui & Co., Ltd. (President and CEO: Masami Iijima, Head Office: Chiyoda-ku, Tokyo, "Mitsui") basically agreed to launch a detailed examination to integrate the two companies' Japanese fertilizer business.

Under the basic agreement concluded between Sumitomo and Mitsui, the two companies are examining the establishment of a new company ("the newly-merged company") through a joint incorporation-type company split (*) allowing the newly-merged company to take over the fertilizer raw materials export and import business of both companies. At the same time, the two companies   are planning to merge Japanese manufacturing and sales subsidiaries Summit Agri-Business Corporation and Mitsui Bussan Agro-Business Co., Ltd., and make it wholly-owned subsidiary of the newly-merged company.