TOKYO, Jun 23, 2020 - (JCN Newswire) - Showa Denko (SDK; TSE:4004) announces that Hitachi Chemical Company, Ltd. (Hitachi Chemical), a consolidated subsidiary of SDK, has resolved at the annual general shareholders' meeting held on June 23, 2020 to change its firm name into Showa Denko Materials Co., Ltd. on October 1, 2020. Details of the decision are as follows.

1. Reason for the changeHere SDK announces the change in the firm name of Hitachi Chemical because it was resolved at Hitachi Chemical's annual general shareholders' meeting held on June 23, 2020. The new firm name "Showa Denko Materials Co., Ltd." represents Hitachi Chemical's determination of opening its new chapter as a consolidated subsidiary of SDK, and now SDK and Hitachi Chemical share the idea of offering their customers and society optimum solutions by combining Showa Denko Group's wide-ranging material technology with Hitachi Chemical Group's material design technology utilizing characteristics of raw materials, ability to evaluate functions, and ability to design functions leading to process technology, including module segmentation.

2. Outline of the consolidated subsidiary- Firm name: Hitachi Chemical Company, Ltd.- Head office: 9-2, Marunouchi 1-chome, Chiyoda-ku, Tokyo- Representative: Hisashi Maruyama, President, CEO and Representative Director- Scope of business: Manufacturing, processing, and sales of functional materials and advanced components and systems- Capital: 15.5 billion yen

3. New firm nameShowa Denko Materials Co., Ltd.

4. Scheduled date of change in the firm nameOctober 1, 2020

About Showa Denko K.K.

Showa Denko K.K. (SDK; TSE:4004, ADR:SHWDY) is a major manufacturer of chemical products serving from heavy industry to computers and electronics. 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, the Inorganics Sector provides ceramic products, such as alumina, abrasives, refractory/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/.

Contact:Showa Denko K.K., CSR & Corporate Communication Office, Tel: 81-3-5470-3235

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