TOKYO—Showa Denko K.K. is carrying out a major restructuring program, which will involve the formation of a holding group and the renaming of the Japanese chemicals supplier.
As part of the process, Showa Denko will be split into two operations, Resonac Holding Corp. and Resonac Corp.
Resonac Holding Corp., the company said, will handle management and strategy formulation and execution, and Resonac Corp. will be involved in manufacturing.
As a whole, the group will be renamed as Resonac Group, combining two English words of resonate and chemistry, the Japanese supplier announced March 9.
Effective January 2023, the integrated entity will build a "co-creative chemical company" with "top-level competence as a chemical manufacturer" that can make decisions and act "swiftly and flexibly," Showa Denko said.