Showa Denko's chairman Ichikawa, and president and CEO Morikawa proposed to us that "we takethis capital reorganization as not a simple acquisition but integration on an equal footing and we reallywant to do so. We would like to eventually establish the optimal governance structure allocating "rightperson-in-the-right-position" regardless of the company from which one originates." The twocompanies agreed to build, through ongoing dialogue, a structure that can utilize each company’sstrengths.