Nippon Shokubai, Sanyo Chemical Terminate Earlier Agreement to Combine Businesses

摘要

Nippon Shokubai and Sanyo Chemical, at their respective board of directors' meetings, have decided to cancel their previously announced business integration agreement (PCN, 16 Mar 2020, p 3). The companies executed the final agreement late last year to conduct the integration by way of a joint share transfer. They planned to combine into a new business named Synfomix Co. Their decision was due to "significant" changes in raw material prices and product prices, as well as "heightened" uncertainty about product demand in the future, Nippon Shokubai noted.