This paper analyzes the business processes of Nippon Steel Chemical Co. Ltd., a company active in the functional chemicals industry, in which Japan is internationally competitive. Nippon Steel Chemical Co. Ltd. began in the coal and chemicals industry, but transferred their business structure to that of functional chemicals by shifting to petroleum chemicals and electronics (functional chemicals) as the times demanded. While at first glance it may seem that the electronics materials industry is

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... far removed from their origins in coal and chemicals, Nippon Steel Chemical Co. Ltd. applied their many years of experience in aromatic chemicals to create their new business. This paper demonstrates how the formulation of management and business models based on core technology underpins the success of new business development and business structure transformation.