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MarketScreener Homepage  >  Equities  >  Tokyo  >  Showa Denko K.K.    4004   JP3368000000

SHOWA DENKO K.K.

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Japan's Hitachi nears deal to sell chemical unit to Showa Denko - Nikkei

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11/25/2019 | 07:55pm EST
A logo of Hitachi Ltd. is pictured at the CEATEC JAPAN 2017 in Chiba

Japanese conglomerate Hitachi Ltd is nearing a deal to sell its 51% stake in Hitachi Chemical Co Ltd to Showa Denko KK in a transaction that could be worth about 950 billion yen ($8.7 billion), the Nikkei https://asia.nikkei.com/Business/Business-deals/Hitachi-nears-sale-of-core-chemical-unit-to-Showa-Denko reported on Monday.

Following the sale, Showa Denko, a chemical engineering group, buy the rest of Hitachi Chemical's outstanding shares through a tender offer, the newspaper said.

Showa Denko said in a statement it was considering various options to boost its corporate value including the purchase of shares in Hitachi Chemical but that nothing had been decided.

Officials at Hitachi and Hitachi Chemical said the report was not based on anything they had announced.

Hitachi Chemical shares soared 16% in price in morning Tokyo trade while those of Hitachi climbed more than 3%. Showa Denko shares fell as much as 8.7%.

Hitachi last month narrowed suitors for the chemical unit to a handful of bidders including Nitto Denko Corp and U.S. buyout funds Bain Capital LP and Carlyle Group LP.

Hitachi has been among the most aggressive of Japan's conglomerates in reorganising its business, selling non-core assets while buying foreign businesses to expand overseas.

Other divestiture includes chip-making equipment manufacturer Hitachi Kokusai Electric and power tool unit Hitachi Koki.

Hitachi Chemical makes materials for semiconductors, displays and lithium-ion batteries.

(Reporting by Arunima Kumar in Bengaluru and Junko Fujita in Tokyo; Editing by Maju Samuel and Christopher Cushing)

Stocks mentioned in the article
ChangeLast1st jan.
HITACHI CHEMICAL COMPANY, LTD. 0.00% 4595 End-of-day quote.0.44%
HITACHI, LTD. 1.00% 4529 End-of-day quote.-2.35%
NIKKEI 225 0.13% 23827.18 Real-time Quote.0.59%
NITTO DENKO CORPORATION 0.00% 6180 End-of-day quote.3.00%
SHOWA DENKO K.K. 0.44% 2749 End-of-day quote.-3.51%
THE CARLYLE GROUP INC. -2.12% 33.72 Delayed Quote.5.11%
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Financials (JPY)
Sales 2019 944 B
EBIT 2019 139 B
Net income 2019 85 696 M
Debt 2019 184 B
Yield 2019 4,82%
P/E ratio 2019 4,70x
P/E ratio 2020 5,89x
EV / Sales2019 0,62x
EV / Sales2020 0,61x
Capitalization 401 B
Technical analysis trends SHOWA DENKO K.K.
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 3 677,50  JPY
Last Close Price 2 749,00  JPY
Spread / Highest target 144%
Spread / Average Target 33,8%
Spread / Lowest Target -27,2%
EPS Revisions
Managers
NameTitle
Kohei Morikawa President, CEO & Representative Director
Hideo Ichikawa Chairman
Motohiro Takeuchi CFO, Director, Executive Officer & Manager-Finance
Jun Tanaka Director & Chief Technology Officer
Keiichi Kamiguchi Director, Head-Personnel & Legal Affairs
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