Asahi Kasei and Mitsubishi Chemical have reached an agreement to specify concrete premises for studies toward the unification on a single naphtha cracker in Mizushima to strengthen its competitiveness and profitability in light of the growing threat from the US shale gas revolution. The two parties have consented to shut down one of their two naphtha crackers in spring 2016 in order to cut fixed costs by around JPY10 bn per annum.