We have avoided raising our chloroprene rubber prices for as long as possible, but we can no longer prolong the inevitable. The prices will be increased by US$520/m.t. or more for US-dollar-based transactions, or by EUR470/m.t. or more for euro-based transactions. The rate of price increase may differ between areas and customers while it will be subject to the terms of applicable contracts.

Due to rising key material costs, the current chloroprene rubber prices do not fully reflect increases in production costs and other business circumstances. Thus, SDK has concluded that it has no alternative but to raise prices in order to ensure the stable supply of chloroprene rubber and the continuation of its business while global demand is recovering and increasing rapidly.

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, visit www.sdk.co.jp/english/.

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

Copyright 2021 JCN Newswire. All rights reserved. www.jcnnewswire.com