Denka Company Limited
Notice Regarding Change in Equity-Method Affiliate (Subsidiarization)
On March 9, 2026, Denka Company Limited decided to acquire 15,000 shares (15.0%) of Toyo Styrene Co., Ltd. held by Daicel Corporation, raising its ownership ratio from 50.0% to 65.0% and making it a consolidated subsidiary.
Key Figures
- Number of shares acquired: 15,000 shares (15.0%)
- Number of shares owned after change: 65,000 shares (65.0%)
- Toyo Styrene sales (Fiscal year ending March 2025): 48,394 million yen
AI要約
Overview of M&A
Denka Company Limited resolved to acquire 15,000 shares (15.0%) of Toyo Styrene Co., Ltd. held by Daicel Corporation, increasing its ownership ratio from 50.0% to 65.0%. Consequently, Toyo Styrene will change from an equity-method affiliate to a consolidated subsidiary. Toyo Styrene was established in 1998 as a joint investment company of the polystyrene business by Denka, Nippon Steel Chemical & Material, and Daicel. The move aims to accelerate business restructuring in response to declining domestic and international demand and intensifying competition.
Future Outlook and Impact
The share transfer is subject to obtaining approvals under antitrust laws and other regulations, with the planned execution date of March 31, 2026. Going forward, Denka aims to expedite management decisions and promote business restructuring at Toyo Styrene while strengthening competitiveness by incorporating technology and recycling technologies within the Denka Group. The impact on consolidated financial results and financial position is currently being examined and will be promptly disclosed as necessary.
