Harima Chemicals : (Update on Disclosed Matter) Harima Chemicals Group, Inc. to Acquire Additional Shares in Hangzhou Hanghua Harima Chemicals Co., Ltd.
April 30, 2024 at 05:21 am
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Apr 30, 2024
To whom it may concern:
Company name: Harima Chemicals Group, Inc.
Representative: Yoshihiro Hasegawa, President (Code: 4410; Tokyo Stock Exchange Prime Market)
Address inquiries to: Shunichiro Taoka, Senior Executive Managing Director (Tel. +81-6-6201-5409)
(Update on Disclosed Matter)
Harima Chemicals Group, Inc. to Acquire Additional Shares in
Hangzhou Hanghua Harima Chemicals Co., Ltd.
As previously informed on Apr 15, 2024, Harima Chemicals Group, Inc. ("Harima") has reached an agreement to acquire all shares of its China-based consolidated subsidiary, Hangzhou Hanghua Harima Chemicals Co., Ltd. ("Hanghua Harima") from long-term partner Hangzhou Research Institute of Chemical Industry ("the Institute"), and dissolve the related joint-venture agreement with the Institute. This time, we announce that the procedures related to the above acquisition have been finalized and Hanghua Harima is now a fully-owned subsidiary of Harima.
Established in 1997 as a joint venture between Harima and the Institute, Hanghua Harima manufactures and sells paper chemicals in East China. In addition to Hanghua Harima, our company operates 8 other bases in China, with a diverse portfolio including solder materials, brazing materials, adhesive resins, disproportionate rosin etc.
Over the years, Hanghua Harima has been a significant contributor to our company's sales and profitability, and the current acquisition aims to further enhance its management fundamentals and presence in the Chinese market.
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Harima Chemicals Group Inc is a Japan-based company mainly engaged in the resin chemical product business, the paper chemical business, the electronic material business and the rotor business. The Company operates in four business segments. The Resin Chemical Product segment is engaged in the manufacture and sale of printing ink resin, paint resin, emulsifier for synthetic rubber, resin for adhesive and tall oil product. The Paper Chemical segment is engaged in the manufacture and sale of paper strength enhancer and sizing agent. The Electronic Material segment is engaged in the manufacture and sale of soldering material and brazing material for heat exchanger. The Rotor segment is engaged in the manufacture and sale of resin for adhesive and printing ink. The Company is also involved in the management of real estate.
HARIMA CHEMICALS GROUP, INC. 
