Chuo-Ku, Tokyo 104-8377 Japan
Sales: $1.31 billion (121,100 million yen) in printing ink and graphic arts supplies; consolidated results: $2.44 billion (226,100 million yen).
Major Products: Printing inks, newspaper inks, UV-curing inks, gravure inks, graphic arts supplies, graphic arts equipment, can coating finishes, resins, adhesives, waxes, laminating adhesives, coating and painting materials, pigments, processed pigments, plastic colorants, media materials, natural products.
Key Personnel: Kunio Sakuma, president and CEO; Katsumi Kitagawa, executive vice president, COO; Shigeki Matsuyama, senior managing director; Kazunori Kasahara, managing director.
Number of Employees: 6,897 (consolidated).
Comments: The global economy proved difficult for ink manufacturers, and for Toyo Ink Mfg. Co., Ltd., sales in the consolidated fiscal year 2009 decreased primarily due to sluggish demand. In contrast, profits increased significantly, because of the expansion of high-function product sales and vigorous cost-cutting measures.
Yu Adachi, corporate communications, Toyo Ink Mfg. Co., Ltd., noted that recovering from the global recession is slow, and demand for printing inks remained weak in Japan, Europe and the U.S. This was accompanied by a drop in demand for electronics materials, such as LCD-related products, during the first half of the consolidated fiscal year 2009.
In the second half, a rapid recovery took place, as sales of offset inks and gravure inks picked up in China and Southeast Asia. In addition, sales rose in India. However, sales were not sufficient to offset the weak performance in the first half.
Toyo Ink Group plans to continue conducting activities to boost new product sales, expand business in growth markets such as China, India and Brazil, opening its new subsidiary in Sao Paulo, Brazil.
In an organizational announcement, Toyo Ink Mfg. Co., Ltd. plans to adopt a holding company structure beginning April 1, 2011. The printing and information-related business and the package-related business, both of which have been operated by the company, will be taken over by Toyo Ink Co., Ltd., while the polymer, painting and processing-related business and the color materials and functional materials-related business, which have also been operated by the company, will be taken over by Toyochem Co., Ltd. That involves the establishment of new companies through a corporate split conducted solely by the company. On the day the company split takes effect, the company will change its trade name to Toyo Ink SC Holdings Co., Ltd.