New Year Message from Kohei Morikawa, Showa Denko President and CEO

TOKYO, Jan 6, 2020 - (JCN Newswire) - Kohei Morikawa, President and CEO of Showa Denko ("SDK"; TSE:4004) announced the following New Year message.

Kohei Morikawa, President and CEO

We must make 2020 a major turning point

At the beginning of 2019, we launched a new medium-term business plan "The TOP 2021" on the basis of "sound present" which we established by recording the highest-ever operating income for two consecutive years. Under "The TOP 2021," we aim to realize "promising future" and specify routes toward further growth. However, our business environment has changed into very hard one due to worldwide recession worse than our forecast caused by US-China trade friction and other geopolitical risks. It seems difficult for us to foresee rapid recovery of global economy in 2020, and the hard business environment is expected to continue. Under such circumstances, the Showa Denko Group is required to change itself drastically in order to cope with changes in the times.

Let's go forward without fear of changes

2020 is the second year and a turnaround point of our medium-term business plan "The TOP 2021" under which we aim to make the Showa Denko Group a first-class corporate group. In "The TOP 2021," we declared things we should change and actions we should take in order that we make ourselves an aggregate of KOSEIHA businesses, which maintain stability and profitability at high levels, and take the first step toward a first-class corporate group. To make ourselves a first-class corporate group, we must be unafraid of changes. The reason is that preservation of the status quo does not allow the Showa Denko Group to become a first-class corporate group which acts to move people's heart and change society. Moreover, a first-class corporate group is required not only to be profitable but also to fulfill corporate social responsibility (CSR) including safe and stable operation, strict compliance, social contribution and employee satisfaction. Though this is a lofty summit of a mountain hard to attack, let us go to reach there.

To make ourselves "a leading functional chemicals manufacturer"

2020 will be an epoch-making year in the long history of us. This year, the Showa Denko Group will combine itself and Hitachi Chemical Company, Ltd. Through this decision we have made, it became possible for us to see a higher summit beyond the status in which we make more than half of our businesses KOSEIHA businesses. By reaching this new and higher summit, we can make ourselves "a leading functional chemicals manufacturer" with "more promising future." To make ourselves an aggregate of KOSEIHA businesses and achieve "a sound present" on a business foundation stronger than ever, let each of ourselves declare what we should do, and execute them with strong will to achieve our goal and self-confidence without fear of changes.

About Showa Denko K.K.

Showa Denko K.K. ((SDK, TSE:4004, OTC:SHWDY), a major manufacturer of chemical products, serves a wide range of fields from heavy industry to electronics and computer industries. The Petrochemicals Sector provides cracker products such as ethylene and propylene, the Chemicals Sector provides industrial, high-performance and high-purity gases and chemicals for semicon and other industries, and the Inorganics Sector provides ceramic products, such as alumina, abrasives, refractory and graphite electrodes and fine carbon products. The Aluminum Sector provides aluminum materials and high-value-added fabricated aluminum, the Electronics Sector provides HD media, compound semiconductors such as ultra high-bright LEDs and rare earth magnetic alloys, and the Advanced Battery Materials Department (ABM) provides lithium-ion battery components. For more information, please visit www.sdk.co.jp/english/.

Source: Showa Denko K.K.

Contact:

Showa Denko K.K. Public Relations Office, Tel: +81-3-5470-3235

Copyright 2020 JCN Newswire . All rights reserved.