Resonac Holdings announced on the 6th that it will propose a partial spin-off of its wholly owned subsidiary, Crasus Chemical, which handles the petrochemical business, at a board meeting in late August. Crasus Chemical is scheduled to list on the Tokyo Stock Exchange Standard Market on September 29, and shares other than the less than 20% stake that Resonac Holdings will continue to hold will be distributed as a dividend in kind on October 1. A partial spin-off is a method in which the parent company retains a portion of the subsidiary's shares, and the company announced the start of consideration in February 2024 and has recently received approval for a business restructuring plan under the Industrial Competitiveness Enhancement Act. The impact of the spin-off on consolidated results is said to be under review.
Resonac Holdings CorporationResonac is spinning off its petrochemical business; the impact on consolidated results is under review, making the net effect unclear.
Crasus Chemical will be listed as a separate entity, gaining access to public markets and independent valuation.