Toyo Ink SC Holdings Co., Ltd. announces that a meeting of its Board of Directors has resolved that, in order to implement the reorganization of the group’s Colorants and Functional Materials Related Business, effective April 1, 2012, an absorption-type demerger and a merger will take place between the company’s wholly-owned subsidiaries, and that the successor company will change its corporate name.
With an eye towards the Toyo Ink Group’s “The Ideal Figures SCC2017,” and to make progress toward teh company’s second launch, a new mountain range management governance system was put into place for operating companies under the holding company in April 2011.
Toyochem Co. Ltd. is the target of the absorption-type demerger, and Oriental Kasei Co. Ltd. (hereafter Oriental Kasei) will be the successor company. Toyochem will spin-off its Color and Functional Materials business through an absorption-type demerger to Oriental Kasei. Both Toyochem and Oriental Kasei are wholly owned subsidiaries of the Toyo Ink.
Oriental Kasei will then merge with Toyo Plax Co. Ltd., forming Toyocolor Co., Ltd. The corporate name is being changed to fit the company’s business description.