Showa Denko Group Resolves at Extraordinary General Meetings of Shareholders
September 30, 2022 at 11:39 am EDT
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Showa Denko (SDK) (Tokyo: 4004) announces that, today, at each of extraordinary general meetings of shareholders of SDK, HC Holdings K.K. (HCHD), which is a wholly-owned subsidiary of SDK, and Showa Denko Materials Co., Ltd. (SDMC), which is a wholly-owned subsidiary of HCHD, it was resolved that the Showa Denko Group will execute absorptiontype merger and company split, change trade names, and partially amend articles of incorporation in order to transform the Group into a holding company structure.
As a result of these resolutions, SDK will transform itself into a holding company structure, effective on January 1, 2023. At the same time, SDK and SDMC will change their trade names into 'Resonac Holdings Corporation' and 'Resonac Corporation' respectively.
For further details of SDK's transformation into a holding company structure, please refer to the news release, 'Showa Denko Decides on Absorption-type Merger & Company Split, Trade Name Change, and Partial Amendment to Articles of Incorporation to Prepare for Its Transformation into Holding Company Structure,' announced on August 4, 2022.
Resonac Holding Corporation (formerly Showa Denko KK) is a holding company organized around 7 family of products:
- materials (43.8% of net sales): electronics materials (epoxy molding compounds, die bonding materials, CMP slurries, anisotropic conductive films), printed wiring board materials (copper-clad laminates, photosensitive dry films), mobility components (plastic molded products, friction materials, powder metal products, carbon anode materials for LIBs), energy storage devices and systems (automotive and industrial batteries), and life sciences (diagnostics, contracted manufacturing of regenerative medicine products);
- petrochemical products (19.6%): olefins (polyethylene, polypropylene) and organic chemical products (vinyl acetate monomer, ethyl acetate and plastics);
- chemical products (12.9%): caustic soda, chlorine, liquid ammonia, amino acids, polymers, gas (oxygen, nitrogen, hydrogen), etc.;
- electronic components (8.3%): hard disks, semiconductors components, magnetic components, etc.;
- inorganic products (7.1%): ceramics and carbons (graphite electrodes);
- aluminum products (5.3%): aluminum foils, extruded products, forged products, cans, etc.;
- other (3%).
Net sales break down geographically as follows: Japan (53.4%), China (12%), Asia (20.6%) and other (14%).