AICA Kogyo Co., Ltd. (TSE:4206) agreed to acquire remaining 15% stake in Aica Sdk Phenol Co., Ltd. from Showa Denko K.K. (TSE:4004) on September 30, 2016. After the acquisition, Aica Sdk Phenol Co., Ltd. will became a wholly owned unit. During the year ended March 2016, Aica Sdk Phenol Co., Ltd had net assets of ¥2.54 billion, total assets of ¥4.08 billion, sales of ¥2.05 billion, and operating profit of ¥45 million.

Board of Directors of AICA Kogyo Co., Ltd. made a resolution in favor of the transaction. The transaction is expected to be completed on September 30, 2017.