\u3000NIPPON SHOKUBAI CO., LTD. (Headquarters: Chuo-ku, Osaka; President: Yujiro Goto, hereinafter \u201cNippon Shokubai\u201d) announces that its subsidiary PT. NIPPON SHOKUBAI INDONESIA (hereinafter \u201cNSI\u201d) has been granted Tax Holiday (*) from Ministry of Finance Indonesia for its Acrylic Acid (hereinafter \u201cAA\u201d) investment plan which was decided in October 2018.
\u3000AA, one of Nippon Shokubai\u2019s core businesses, shows steady growth of demand as a key material for superabsorbent polymers (hereinafter \u201cSAP\u201d) and acrylates (hereinafter \u201cAES\u201d) etc. Nippon Shokubai concluded to expand the capacity of NSI in October 2018 and NSI held a groundbreaking ceremony in July 2019.<\/p>\n\n\n\n
(*) Tax Holiday regulation
\u3000Tax Holiday is a corporate income tax incentive for investment which highly contributes to industrial cluster in Indonesia. Through Tax Holiday, the investment enables NSI to obtain exemption of corporate income tax for the first 7 years after the start of commercial production, followed by 50% reduction for the following 2 years.<\/p>\n\n\n\n
| Established<\/td> | August 1996<\/td><\/tr> | ||||||||
| Location<\/td> | Cilegon, Indonesia (headquarters and plant)<\/td><\/tr> | ||||||||
| Representative<\/td> | Hisakazu FUJITA (Mr.), President Director<\/td><\/tr> | ||||||||
| Business<\/td> | Production and sales of AA, AES and SAP<\/td><\/tr> | ||||||||
| Capital<\/td> | 120 million US dollars \u2013 paid in capital 99.9\uff05 owned by Nippon Shokubai<\/td><\/tr> | ||||||||
| Number of employees<\/td> | 458 as of March 31, 2019<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n2\uff0eFeature of the investment\u3000<\/h5>\n\n\n\n
|