Showa Denko K.K. has announced that Hitachi Chemical Company has become its consolidated subsidiary. Following this, the ownership stake will be raised to 100 percent by the end of this year before Showa Denko K.K. and Hitachi Chemical Company Ltd. become integrated by establishing a new company in the future.
Acquisition to Boost Business Capabilities
Through this integration, the two companies will develop strong business capabilities, anticipating that the chemicals industry will face intensifying global competition and major changes in market structure.
To respond effectively to such a challenging business environment, the Showa Denko Group, an upstream (material) manufacturer, and the Hitachi Chemical Group, a mid- to down-stream (function, module, evaluation) supplier, will bring together their respective strengths to create a dependable one-stop solution provider for cutting-edge materials, aiming at becoming a global-top class manufacturer of functional chemical materials/ products.
Source: Showa Denko