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

SHOWA DENKO K.K.

(4004)
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SDK Subsidiary, Hitachi Chemical Changes Name

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06/23/2020 | 02:38am EDT

TOKYO, Jun 23, 2020 - (JCN Newswire) - - Showa Denko (SDK; TSE:4004) announces that Hitachi Chemical Company, Ltd. (Hitachi Chemical), a consolidated subsidiary of SDK, has resolved at the annual general shareholders' meeting held on June 23, 2020 to change its firm name into Showa Denko Materials Co., Ltd. on October 1, 2020. Details of the decision are as follows.

1. Reason for the change

Here SDK announces the change in the firm name of Hitachi Chemical because it was resolved at Hitachi Chemical's annual general shareholders' meeting held on June 23, 2020. The new firm name "Showa Denko Materials Co., Ltd." represents Hitachi Chemical's determination of opening its new chapter as a consolidated subsidiary of SDK, and now SDK and Hitachi Chemical share the idea of offering their customers and society optimum solutions by combining Showa Denko Group's wide-ranging material technology with 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.

2. Outline of the consolidated subsidiary

- Firm name: Hitachi Chemical Company, Ltd.

- Head office: 9-2, Marunouchi 1-chome, Chiyoda-ku, Tokyo

- Representative: Hisashi Maruyama, President, CEO and Representative Director

- Scope of business: Manufacturing, processing, and sales of functional materials and advanced components and systems

- Capital: 15.5 billion yen

3. New firm name

Showa Denko Materials Co., Ltd.

4. Scheduled date of change in the firm name

October 1, 2020

About Showa Denko K.K.

Showa Denko K.K. (SDK; TSE:4004, ADR:SHWDY) is a major manufacturer of chemical products serving from heavy industry to computers and electronics. The Petrochemicals Sector provides cracker products such as ethylene and propylene, the Chemicals Sector provides industrial, high-performance and high-purity gases and chemicals for semicon and other industries, the Inorganics Sector provides ceramic products, such as alumina, abrasives, refractory/graphite electrodes and fine carbon products. The Aluminum Sector provides aluminum materials and high-value-added fabricated aluminum, the Electronics Sector provides HD media, compound semiconductors such as ultra high bright LEDs, and rare earth magnetic alloys, and the Advanced Battery Materials Department (ABM) provides lithium-ion battery components. For more information, please visit www.sdk.co.jp/english/.

Contact:

Showa Denko K.K., CSR & Corporate Communication Office, Tel: 81-3-5470-3235

Copyright 2020 JCN Newswire . All rights reserved.

© Japan Corporate News, source JCN Press Releases


Stocks mentioned in the article
ChangeLast1st jan.
HITACHI, LTD. 2.82% 3650 End-of-day quote.-21.10%
SHOWA DENKO K.K. 1.70% 1917 End-of-day quote.-33.87%
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Financials
Sales 2020 972 B 9 285 M 9 285 M
Net income 2020 -90 451 M -864 M -864 M
Net Debt 2020 864 B 8 246 M 8 246 M
P/E ratio 2020 -3,09x
Yield 2020 1,42%
Capitalization 280 B 2 669 M 2 670 M
EV / Sales 2020 1,18x
EV / Sales 2021 0,81x
Nbr of Employees 33 805
Free-Float 94,6%
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 2 672,86 JPY
Last Close Price 1 917,00 JPY
Spread / Highest target 114%
Spread / Average Target 39,4%
Spread / Lowest Target 1,72%
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NameTitle
Kohei Morikawa President, CEO & Representative Director
Hideo Ichikawa Chairman
Motohiro Takeuchi CFO, Representative Director & Head-Accounting
Hiroshi Sakai Director & Chief Technology Officer
Masaharu Oshima Independent Outside Director
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