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Business deals

David buys Goliath: Showa Denko to bet it all on Hitachi Chemical

Magnetic disk leader aims to transform into supplier for 5G chip industry

Aluminum alloy bars manufactured by Showa Denko.

TOKYO -- Japanese materials maker Showa Denko has moved to spend roughly 900 billion yen ($8.26 billion), or double its market value, to purchase domestic rival Hitachi Chemical, demonstrating its resolve to remain relevant in today's global industry.

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