TOKYO, Jul 8, 2021 - (JCN Newswire) - With regard to the media coverage made by Nihon Keizai Shimbun (NIKKEI: The Japan Economic Journal) published on July 8, 2021 reporting that Showa Denko (SDK; TSE:4004) will sell off the lead-acid battery business operated by Showa Denko Materials Co., Ltd., which is a member company of the Showa Denko Group, SDK has never released such news, and the coverage is not based on information disclosed by SDK.

SDK has been investigating various measures to increase its corporate value, including review of the Showa Denko Group's business portfolio. Regarding this issue, SDK will suggest a draft resolution to the meeting of the Board of Directors which is to be convened today, and will disclose results of the meeting without delay if any decision regarding this issue is made officially.

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/.

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

Source: Showa Denko K.K.

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