Shin-Etsu Chemical is a manufacturer of polyvinyl chloride (PVC), semiconductor silicon wafers, and silicones worldwide. It has the largest global market share for polyvinyl chloride, semiconductor silicon, and photomask substrates. “Shin-Etsu” in the company's name derives from Shin'etsu Region, where the company established the first chemical plant as Shin-Etsu Nitrogen Fertilizer in 1926. Today, the company is headquartered in Tokyo and has its manufacturing locations in 14 countries worldwide. Formerly known as Shin-Etsu Nitrogen Fertilizer Co., it changed its name to Shin-Etsu Chemical Co. in 1940.