Showa Denko K.K. (SDK) announces that it was resolved at the board of directors meeting that SDK will set the firm name of a new company (the newly integrated company) which is planned to be organized in January 2023 because of integration of SDK and Showa Denko Materials Co., Ltd. (SDMC), which is a member company of the Showa Denko Group.
Execution of this resolution is subject to adoption of relevant resolutions by shareholders at a general meeting of shareholders of Showa Denko K.K., which is planned to be held in late September 2022, and is also subject to adoption of relevant resolutions by shareholders at a general meeting of shareholders of SDMC, which is planned to be held in late September 2022.
HCHD to be Merged with SDMC
In this plan, the current Showa Denko K.K. as a company to be split, execution of the company split, make Showa Denko Materials Co., Ltd. (SDMC), which is a wholly owned subsidiary of HC Holdings K.K. (HCHD), in which SDK holds 100% of voting rights, succeed all businesses currently operated by SDK, and merge HCHD into SDMC.
If execution of this plan is finalized, firm names of the holding company and the manufacturing company will be set as Holding company (current Showa Denko K.K. (planned) Resonac Holdings Corporation, Manufacturing company (current Showa Denko Materials Co., Ltd. (planned) Resonac Corporation.
In January 2023, SDK and SDMC will cooperatively transform themselves into a holding company structure, in which the holding company will specialize in formulating and executing group strategy, and functioning as a company listed on the stock exchange.
The newly integrated company (a company involved in manufacturing) will focus on strengthening competitiveness of each business of the Company in order to realize synergy of integration of SDK and SDMC as soon as possible, and operating businesses in a quick and flexible manner corresponding to the surrounding environment.
The newly organized corporate group will aim to become a “Co-Creative Chemical Company,” which will have global top level competence as a chemical manufacturer, make decisions and act swiftly and flexibly, and co-create better society with key players in various industries and consumers who share a high aim and ideal with us.
Company's Name to be Changed to RESONAC
To take a new step as the newly integrated company and realize co-creative chemical company, new company’s name to be change into “RESONAC” concurrently with the integration of the two legal entities.
The Showa Denko Group sees the integration as “the second foundation” for SDK and SDMC. Under the new firm names, the brand-new Resonac Group will ferment the sense of unity further, create new functions required of the time as an advanced material partner, and contribute to sustainable development of global society.
The new firm name “RESONAC” was created as a combination of two English words, namely, the word of “RESONATE” and “C” as the first letter of CHEMISTRY. Into RESONAC, we put our hope that the Group’s wide-ranging and flexible advanced material technologies will be connected and resonate with our partners’ various technologies and ideas to realize bright future, and the resonance will spread further to meet new partners, thereby creating a powerful surge that changes society.
To express this hope of ours, we put two parallel lines that rises steadily from left to right into the lower left of the first letter R in the new corporate logotype. These parallel lines symbolize co-creation borne by resonance, and symbolize our strong will to spread the resonance further and challenge to realize bright future together with our partners.
The scheduled date of changes in firm names is January 1, 2023.
Source: Showa Denko K.K.