Hitachi Chemical : Announcement of Changing Company's Name

June 23, 2020
Hitachi Chemical Co., Ltd.

Hitachi Chemical Co., Ltd. (President: Hisashi Maruyama; hereinafter 'Hitachi Chemical') announces the passing of the resolution at the annual general shareholders' meeting on June 23 to change the name of the company to 'Showa Denko Materials Co., Ltd.' on October 1, 2020.

1. Reason for the change

Hitachi Chemical became a consolidated subsidiary of Showa Denko K.K. (hereinafter 'Showa Denko') on April 28, 2020, following the acquisition of Hitachi Chemical's shares by HC Holdings K.K., a wholly owned subsidiary of Showa Denko. As a result, the Hitachi Chemical Group has decided to change the name of the company to promote its corporate brand as a member of the Showa Denko Group.

The new name 'Showa Denko Materials Co., Ltd.' represents Hitachi Chemical's determination of opening a new chapter as part of the Showa Denko Group and offering the best solutions to its customers and society by combining Hitachi Chemical Group's material design technology utilizing characteristics of raw materials, ability to evaluate functions, and ability to design functions leading to process technology, including module segmentation, with Showa Denko Group's wide-ranging material technology.

Under the new name, Hitachi Chemical aims to become the global-top-class manufacturer of functional chemical materials/products creating solutions to the challenges facing its customers and society as a one-stop, advanced materials partner.

3. Change of the names of Hitachi Chemical Group companies

The names of Hitachi Chemical Group companies will in principle change on October 1, 2020. However, the names of certain Group companies are expected to change by October 1, 2020 or later.