Key facts
- Crasus Chemical will be temporarily included in the Nikkei 225 index on September 29, 2026.
- The inclusion is due to updated rules for handling spinoff listings.
- Crasus Chemical is spinning off from Resonac Holdings.
- The company will be removed from the index the day after its listing.
- Crasus Chemical focuses on basic petrochemicals, organic chemicals, and synthetic resins.
Crasus Chemical, slated to debut on the Tokyo Stock Exchange on September 29, 2026, following its separation from Resonac Holdings, will be temporarily included in the Nikkei 225 index for a single day. This special treatment, effective on its listing date and removed the following day, aligns with the Nikkei 225's updated rules for handling spinoff listings, revised in July 2025.
Resonac Holdings Corp. has approved the plan to spin off its wholly owned petrochemical subsidiary, Crasus Chemical Inc., as part of a broader business portfolio restructuring. The spin-off is scheduled to take effect on October 1, 2026. Under the transaction, Resonac will distribute Crasus Chemical shares to its shareholders as an in-kind dividend, with shareholders recorded as of September 30, 2026, receiving one Crasus Chemical share for every Resonac Holdings share owned. The total carrying amount of the dividend property is estimated at approximately ¥37.8 billion.
Following the transaction, Resonac's ownership in Crasus Chemical is expected to fall below 20%, meaning Crasus Chemical will no longer be a consolidated subsidiary. Crasus Chemical, based in Oita City, Japan, produces basic petrochemicals like ethylene and propylene, acetic acid-based organic chemicals, and synthetic resins. For the fiscal year ended December 31, 2025, it recorded consolidated net sales of approximately ¥303.9 billion and operating income of around ¥4.2 billion. The spin-off aims to provide Crasus Chemical with greater operational independence and allow Resonac to focus on its continuing businesses.