Shikoku Chemicals acquires Indonesian chemical manufacturer Timuraya Tunggal

Shikoku Chemicals Corporation announced its decision to acquire all shares of PT Timuraya Tunggal, an Indonesian chemical manufacturer, making it a wholly-owned subsidiary. The acquisition, approved by the boards of directors on November 26, 2025, aligns with Shikoku Chemicals' "Challenge 1000" long-term vision to accelerate global expansion and optimize production and sales. The share transfer agreement is scheduled for November 28, 2025, with execution expected in the first quarter of 2026.

Timuraya Tunggal, established in 1979, specializes in producing and selling basic chemicals, including sulfuric acid, and agricultural chemicals from sulfur. This acquisition, valued at approximately $30 million for Timuraya shares and 600 million yen for advisory fees, ensures a stable supply of essential raw materials for Shikoku Chemicals' products. It will also leverage Timuraya's sales network in Southeast Asia to enhance Shikoku Chemicals' global presence.

Prior to the acquisition, Shikoku Chemicals held no shares in Timuraya Tunggal. Post-acquisition, Shikoku Kasei Holdings Corporation will hold 48,349 shares (10.0% voting rights), and Shikoku Chemicals Corporation will hold 435,141 shares (90.0% voting rights), totaling 100% ownership. The impact on the fiscal year ending December 31, 2025, consolidated financial results is currently under review.