Resonac Holdings Corp. (Tokyo, Japan) has resolved at a meeting of its Board of Directors to execute a partial spin-off (the “Spin-off”) of its wholly owned subsidiary, Crasus Chemical Inc., which operates the petrochemical business, effective October 1, 2026. The execution of the Spin-off is subject to the condition that approval for the listing of the shares of common stock of Crasus Chemical (“Crasus Chemical Shares”) is obtained from the Tokyo Stock Exchange (TSE), and such approval is not revoked.
Upon execution of the Spin-off, Resonac Holdings plans to distribute Crasus Chemical Shares as an in-kind dividend to shareholders appearing in the Company’s register of shareholders as of the record date, September 30, 2026, at a ratio of one Crasus Chemical Share to one share of common stock of the Company held by each shareholder. The total carrying amount of the dividend property is approximately 37.8 billion yen (¥199.02 per share), based on the estimated carrying amount as of July 31, 2026.
Following the execution of the Spin-off, Resonac Holdings’ ownership interest in Crasus Chemical Shares is expected to fall below 20%. Accordingly, Crasus Chemical will cease to be a consolidated subsidiary of Resonac Holdings and, as the Company is not expected to have significant influence over Crasus Chemical, is expected to fall outside the scope of the equity method. The impact of the Spin-off on the Company’s consolidated financial results is currently under review and has not yet been determined.
From the third quarter of fiscal year 2026, the Crasus Chemical segment will be classified as a discontinued operation in accordance with IFRS 5 “Non-current Assets Held for Sale and Discontinued Operations.” As a result, the revenues and expenses of the Crasus Chemical segment will be separately presented from continuing operations in the consolidated statement of profit or loss as net profit or loss from discontinued operations.
Crasus Chemical, headquartered in Oita City, Oita Prefecture, manufactures and sells basic petrochemical products such as ethylene and propylene, organic chemical products with acetic acid as the principal raw material, and synthetic resin products. The company was established on August 1, 2024, as a wholly owned subsidiary of Resonac Holdings. For fiscal year ended December 31, 2025, Crasus Chemical reported net sales of approximately ¥303.9 billion and operating income of approximately ¥4.2 billion on a consolidated basis under J-GAAP.
The schedule for the in-kind dividend is as follows: last trading day with entitlement for Company Shares: September 28, 2026; ex-rights date for Company Shares and scheduled listing date of Crasus Chemical Shares on the TSE: September 29, 2026; record date: September 30, 2026; effective date of the in-kind dividend and distribution date: October 1, 2026.