AgroPages-Nihon Nohyaku to become a consolidated subsidiary of ADEKA-Agricultural news

Nihon Nohyaku will become a consolidated subsidiary of ADEKA, and as a member of the ADEKA group.

On August 21, 2018, Nihon Nohyaku Co., Ltd. has signed a capital and business alliance agreement with ADEKA Corporation to support the tender offer of its shares and to allot new shares to ADEKA, with the aim of strengthening Nihon Nohyaku’s capital base and creating synergies with ADEKA.

Nihon Nohyaku was founded in 1928 as a separate and independent company from the agrochemical division of Asahi Denka Kogyo KK. (current ADEKA).

“Since then, we have built good relationships through technological cooperation and personnel exchanges for many years. In recent years, ADEKA has been working to strengthen its business in the life science field as a growing area. Under this capital and business alliance agreement, we have agreed to work together to achieve further growth in the agrochemical and other life science businesses, and to take various measures to enable Nihon Nohyaku to make a leap forward. In addition, under the capital and business alliance agreement, Nihon Nohyaku will be a 51% owned subsidiary of ADEKA, but we both have agreed that Nihon Nohyaku will maintain secure independent management, listing on the First Section of the Tokyo Stock Exchange, and the name of the company,” said Yosuke Tomoi, Representative Director and President of Nihon Nohyaku.

As an R&D-focused company, Nihon Nohyaku will continue to create high-quality products created through cutting-edge science and technology, and will continue to be a company that is trusted and needed by customers as a partner.

“Through this capital and business alliance agreement, we will further stabilize our management base and to pursue more aggressive management strategies and grow as a global company,” added Tomoi.