On October 1, 2006, Dowa Mining Co., Ltd. switched to a holding company system through spin-offs and other measures, giving birth to Dowa Holdings and five operating companies.

Objectives of Switch to Holding Company System

The Dowa Group had previously operated on the basis of a business division system, and then an in-house company system. It was decided to convert to a holding company system for the sake of greater management speed, autonomy, specialization, and agility of business divisions.

Spinning off business divisions into separate companies and establishing a holding company has the advantage of allowing the optimum allocation of the management resources of the entire group, maximizing corporate value through sustainable growth.

Entering a Stage of New Reforms

Name Change

Dowa Mining Co., Ltd. changed its name to Dowa Holdings Co., Ltd.

New firms established through the consolidation and spin-off of business divisions

Five in-house companies (nonferrous metals, environmental management and recycling, electronic materials, metal processing, and heat treatment) were spun off from the former Dowa Mining Co., Ltd., to form five core operating companies.

Directly operated manufacturing operations consolidated and spun off

Plants managed by the Head Office—the Okayama Clean Works, the Recycling Division of the Okayama Works, the Okayama Works, the Shiojiri Works, and the manufacturing headquarters of THT Thermo Company—were spun off to become manufacturing subsidiaries under the umbrellas of the core operating companies.