Chuo-ku, Tokyo, Japan 103-8233
Phone: +81 3-5203-7838
Fax: +81 3-3273-7586
Sun Chemical: www.sunchemical.com
Sales: DIC: $4.9 billion (¥532,800 million) in graphic arts sales, including Sun Chemical, which has more than $3.5 billion in ink and pigment sales. Total sales: $7.07 billion (¥768.6 billion).
Major Products: Broad product portfolio with capabilities in web heatset and sheetfed offset; publication and packaging gravure; news ink and publication coldset; flexographic packaging inks; corrugated packaging inks; energy curable inks and coatings; screen inks, toner, inkjet materials, adhesives for packaging, overprint varnishes, specialty coatings, effect inks, security inks and coatings, printing consumables and organic pigments for inks, plastics, paints, coatings and cosmetics.
Key Personnel: Kaoru Ino, president and CEO; Masayuki Saito, CFO and Sun Chemical Corp. chairman of the board; Masami Hatao, president, Color & Display Business Group; Naoyoshi Furata, GM, Production Management Unit; Kazuo Hatakenaka, president, Functional Products Business Group; Kiyotaka Kawashima, GM, Technical Management Unit; Rudi Lenz, vice chairman of the board, Sun Chemical; Myron Petruch, president and CEO, Sun Chemical; Masamichi Sota, president, Packaging and Graphic Business Group.
Number of Employees: 20,513.
Comments: The leading international ink manufacturer, DIC Corporation has more than 170 companies, including its North American/EMEA subsidiary Sun Chemical. DIC Corporation had a solid year in the graphic arts market, with sales from its Packaging & Graphic and Color & Display divisions totaling $4.9 billion (¥532.8 billion).
Packaging & Graphics segment sales declined 4.2% but were up 0.6% on a local currency basis. Segment operating income dropped 3.6%. DIC reported that sales of food packaging inks increased, notably in emerging economies in Asia and South America, and inkjet inks were a bright spot for the company. Meanwhile, sales of publication inks declined. Color & Display sales decreased 6.2%, while segment operating income fell 28%.
Overall, DIC saw its consolidated net sales decline 4.6%, to $7.07 billion (¥768.6 billion) in fiscal year 2019.
“In fiscal year 2019, consolidated net sales slipped 4.6%, to ¥768.6 billion,” the company stated in its annual report. “On a local currency basis, however, the decrease was
“Operating income was down 14.6%, to ¥41.3 billion, or 8.7% on a local currency basis,” the report continued. “In addition to falling shipments, particularly of high-value-added products, these results reflected flagging sales prices for some products. Thanks to the impact of raw materials price decreases and of cost reductions achieved through rationalization, the decline narrowed after bottoming out in the first quarter.”
DIC and Sun Chemical have been active in the merger and acquisition market. In the biggest news, DIC announced on Aug. 29, 2019, that it is in the process of acquiring BASF’s Colors & Effects (BCE) business, which includes all of its pigment operations. BASF had Colors & Effects sales of €992 million in 2018.
“Our acquisition of BCE brings together complementary resources and expertise of two recognized leaders in innovation, product stewardship, regulatory leadership, application support and manufacturing,” said Kaoru Ino, president and CEO of DIC, in making the announcement. “We have outlined a clear growth path for DIC with the target to increase our sales to 1 trillion yen (approximately €8 billion) by 2025. In this context, BASF’s pigments portfolio is an important strategic addition in meeting our goals more expeditiously. It will allow us to expand our offering as one of the leading pigment suppliers globally and provide our customers with even more versatile solutions.”
The company was also active on the ink side. On June 1, 2020, DIC Corporation announced that Sun Chemical entered into a definitive agreement to acquire 100% of the shares of Sensient Imaging Technologies, an inkjet ink leader in the field of textiles and industrial markets, two growing segments.
Liquid inks for packaging is another area of growth, and DIC made a move here as well, acquiring a packaging ink business from Lioaning Tianqi Technology Co., Ltd. on May 1, 2020. The company will be renamed to DIC Graphics (Shenyang) Ltd.