Wedoany.com Report-Dec.10, Kuraray Co., Ltd., headquartered in Tokyo, has signed an agreement to transfer full ownership of its wholly owned subsidiary Kuraray Methacrylate (Zhangjiagang) Co., Ltd., located in Zhangjiagang City, Jiangsu Province, China, to Jiangsu Double Elephant Group Co.

Established in 2004, Kuraray Methacrylate (Zhangjiagang) has specialized in the production of high-quality cast methacrylic resin sheets. The facility has primarily served the Chinese market, with strong demand from premium acrylic bathtub applications, while also supplying cast sheets to Japan under the PARAGLAS™ brand.

In recent years, reduced activity in China's real estate sector has lowered demand for acrylic bathtubs, affecting the subsidiary's sales and profitability. As part of broader portfolio optimization and a planned reduction in methyl methacrylate (MMA) production capacity within its methacrylate segment, Kuraray concluded that transferring the business to Jiangsu Double Elephant Group—China's largest MMA producer—offers the most suitable path forward.

The transaction is scheduled to close between mid-February and early March 2026.

Jiangsu Double Elephant Group plans to maintain stable operations at the existing plant, retain the current workforce, and further develop the cast sheet business for both domestic and international markets. Kuraray has secured an agreement ensuring continued supply of PARAGLAS™ products to Japan from the same facility after the transfer.

Kuraray stated that the move enables its established technologies and product quality to remain fully utilized under new ownership that possesses strong scale and market presence in China. The company will work closely with Jiangsu Double Elephant Group to ensure a seamless handover and continue meeting the needs of existing customers during the transition period.

This strategic divestment aligns with Kuraray's ongoing efforts to streamline operations and focus resources on areas with sustainable growth potential while supporting the long-term development of the transferred business under capable local leadership.