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    4004   JP3368000000

SHOWA DENKO K.K.

(4004)
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Showa Denko K K : Announcement of Change in Effective Date of Company Split(Simplified Absorption-Type Company Split)

05/26/2021 | 02:03am EDT

May 26, 2021

To whom it may concern

Name of Listed Company:

Showa Denko K.K.

Code Number:

4004 TSE First Section

Name of Representative:

Kohei Morikawa, President & CEO

Contact:

Yunia Kagawa

General Manager

CSR & Corporate Communication Office

TEL (03)-5470-3235

Announcement of Change in Effective Date of Company Split

(Simplified Absorption-Type Company Split)

As stated in "the Announcement of Execution of Master Agreement regarding Series of Transactions to Effect, among other matters, the Succession of the Aluminum Can and Aluminum Rolling Businesses through Company Splits (Simplified Absorption-Type Company Splits), and Result in Certain Consolidated Subsidiary Ceasing to be a Consolidated Subsidiary of Showa Denko K.K.", dated January 28, 2021, the Company originally planned to succeed the aluminum can business of the Company to Showa Aluminum Can Corp., which is a wholly owned consolidated subsidiary of the Company, effective on June 1, 2021. However, the Board of Directors, at a meeting also held today, passed a resolution to change the effective date of the company split. The Company also decided to change the signing date, June 24, 2021, of the succession of the aluminum rolling business to Showa Denko Sakai Aluminum Corp., which is a wholly owned non-consolidated subsidiary of the Company.

1. Details of the change of date

Based on the article 6 of the company split agreement (aluminum can business), the effective date of the company split (aluminum can business), after consultation between the Company and the Successor Company, will be changed from June 1, 2021 to June 24, 2021.

The signing date of the company split agreement of the aluminum rolling business will be changed to June 25, 2021.

1

2. Reason for the change

The administrative procedures for the corporate splits will take more time than expected.

3. Schedule

Date of the decision to approve change in effective date by

May 26, 2021

the Board of Directors (aluminum can business)

Date of the conclusion of agreement on change of effective

May 27, 2021 (Expected)

date (aluminum can business)

Company Split Effective Date (aluminum can business)

June 24, 2021 (Expected)

Company Split Agreement Execution Date (aluminum rolling

June 25, 2021 (Expected)

business)

Company Split Effective Date (aluminum rolling business)

August 2, 2021 (Expected)

4. Projected impact on financial results

The change in the effective date of the company split (aluminum can business) is expected to have no significant impact on the Company's consolidated financial results since the Successor Company is a consolidated subsidiary.

2

Disclaimer

Showa Denko KK published this content on 26 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 May 2021 06:02:05 UTC.


ę Publicnow 2021
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Sales 2021 1 380 B 12 598 M 12 598 M
Net income 2021 9 450 M 86,3 M 86,3 M
Net Debt 2021 756 B 6 899 M 6 899 M
P/E ratio 2021 48,3x
Yield 2021 2,08%
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EV / Sales 2021 0,88x
EV / Sales 2022 0,77x
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Free-Float 94,2%
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Kohei Morikawa President, CEO & Representative Director
Motohiro Takeuchi CFO, Representative Director & Head-Accounting
Hideo Ichikawa Chairman
Hiroshi Sakai Director & Chief Technology Officer
Masaharu Oshima Independent Outside Director
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