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[ 2012/05/01 | Mitsui Chemicals Inc. | Chemicals | Tokyo | TSE1 ]

Accident at Iwakuni-Ohtake Works Executive Officer Remuneration Cut



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Accident at Iwakuni-Ohtake Works Executive Officer Remuneration Cut

May 1, 2012
Mitsui Chemicals, Inc.

On April 22 (2:15am), a tragic explosion and fire occurred at Mitsui Chemicals' Iwakuni-Ohtake Works claiming the life of one employee and injuring persons from the local community and Works employees.

Mitsui Chemicals extends heartfelt sympathy to the family of the deceased and sincerest apologies to all persons injured in the accident, residents suffering damages to homes and property, persons of the local community, persons working at nearby companies, the authorities, our customers, and all stakeholders.

Executive officers at Mitsui Chemicals recognizing the gravity of the accident and being deeply saddened by the loss of life and suffering caused to local community residents, have decided to cut their remuneration as a sense of responsibility.

Apart from this measure, responsible persons determined by the investigation as it proceeds, will be held accountable.

1. Subjects and rates

President & CEO  40% of executive compensation
Other executive officers  30% of executive compensation

2. Term

From April (period indefinite)

Attachment

Accident at Iwakuni-Ohtake Works Executive Officer Remuneration Cut (PDF:12KB)



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