Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Tuesday, 29 May 2018, 17:30 HKT/SGT

Source: Showa Denko K.K.
Showa Denko Transfers Its Shares in Indonesia Chemical Alumina

TOKYO, May 29, 2018 - (JCN Newswire) - Showa Denko ("SDK"; TSE:4004) has reached a basic agreement with PT ANTAM Tbk (ANTAM) on the transfer of its shares in PT. INDONESIA CHEMICAL ALUMINA (ICA) to ANTAM. SDK resolved at its Board of Directors meeting earlier today to sell its entire shareholding in ICA to ANTAM. Currently, SDK applies equity method to ICA, while ANTAM is the parent company of ICA and the majority shareholder. SDK announced on July 24, 2017 that it had entered negotiations with ANTAM for the sale of its entire stake in ICA.

1. Outline of ICA
(2) Locations: Head office: Jakarta, Indonesia; Plant: Tayan District, West Kalimantan, Indonesia
(3) Representative: President, Anas Safriatna
(4) Capital: US$188,500 thousand
(5) Shareholders: PT ANTAM Tbk (80%); Showa Denko K.K. (20%)
(6) Establishment: February 2007
(7) Products: Alumina and aluminum hydroxide

2. About the sale of SDK's entire shareholding ICA to ANTAM
(1) Transfer price: Memorandum price
(2) Date of resolution at the board of directors meeting: May 29, 2018
(3) Date of conclusion of share transfer agreement: May 29, 2018
(4) Date of execution of share transfer: August 31, 2018 (planned)

3. Impact on SDK's 2018 financial results
The ICA plant has temporarily stopped operation. Though it is agreed that the two shareholders of ICA will bear any costs in restarting the plant in accordance with the ratio of each company's interest, the influence of the restart cost on SDK's 2018 full-year consolidated financial results is expected to be insignificant.

With regard to ICA, SDK already recorded about 10.0 billion yen as loss on investment to companies under the application of equity method and about 6.7 billion yen as extraordinary losses concerning SDK's suretyship obligation and loans to ICA in SDK's financial results for the first half of 2017.

Forecast of 2018 consolidated financial results (announced on May 9, 2018) and actual consolidated financial results for 2017
(Unit: Millions of yen)   Net sales   Operating   Ordinary   Net income
                                      income      income     attributable
                                                             to owners of
                                                             the parent
Forecast of 2018 consolidated financial results
(Jan. - Dec. 2018)          935,000     137,000    131,500         85,000
Actual consolidated financial results for 2017
(Jan. - Dec. 2017)          780,387      77,818     63,962         33,470 

About Showa Denko K.K.

Showa Denko K.K. (SDK; TSE:4004, ADR: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

Public Relations Office
Phone: 81-3-5470-3235

May 29, 2018 17:30 HKT/SGT
Source: Showa Denko K.K.

Showa Denko K.K. (TSE: 4004)

Topic: Press release summary
Sectors: Chemicals
From the Asia Corporate News Network

Copyright © 2019 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

Showa Denko K.K.
Jan 21, 2019 13:00 HKT/SGT
SDK's 3.5-inch Media Now Used in World's-Largest-Capacity 16TB HDD
Jan 15, 2019 13:30 HKT/SGT
SDK Group Develops Ultralight Laminate-type Radiator for EV Battery Modules
Jan 4, 2019 10:30 HKT/SGT
New Year Message from Kohei Morikawa, Showa Denko President and CEO
Dec 19, 2018 14:00 HKT/SGT
Showa Denko Announces Notice Regarding the Status of Share Repurchase and Its Completion
Dec 11, 2018 13:00 HKT/SGT
Showa Denko Maps Out New Medium-term Business Plan "The TOP 2021"
Dec 11, 2018 13:00 HKT/SGT
Showa Denko Forecasts Payment of Term-end Dividend
Dec 11, 2018 13:00 HKT/SGT
Showa Denko Announces Notice Regarding the Repurchase of Own Shares
Dec 7, 2018 10:30 HKT/SGT
Showa Denko: New Aluminum Can JV holds Ceremony for Completion of Factory in Thailand
Dec 3, 2018 14:00 HKT/SGT
Showa Denko Announces Changes in Corporate Management
Nov 27, 2018 19:30 HKT/SGT
AI Drastically Cuts Number of Trials for Polymer Design
More news >>
 News Alerts
Copyright © 2019 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 400 879 3881 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6721 7212

Connect With us: