07.31.18
2-1, Kyobashi 2-chome
Chuo-Ku, Tokyo 104-8377 Japan
Phone: +81-3-3272-5731
Fax: +81-3-3272-8688
http://schd.toyoinkgroup.com/en/
E-mail: info@toyoinkgroup.com
Sales: $1.3 billion in printing and information, and packaging materials (¥145.9 billion) Consolidated results: $2.49 billion (¥280.1 billion).
Major Products: Printing inks; newspaper inks; UV/EB-curing inks; gravure inks; flexo inks; screen inks,; highly reactive UV inks; metal decorating inks; hard coatings; graphic arts supplies; graphic arts equipment; can coatings; resins; adhesives; laminating adhesives; coating materials; pigments; processed pigments; plastic colorants; color filter materials; natural extracts.
Key Personnel: Kunio Sakuma, chairman; Katsumi Kitagawa, president and Group CEO; Katsumi Yamazaki, senior managing director and president of Toyo Ink Co., Ltd.; Hiroya Aoyama, senior managing director and CFO; Shuji Miyazaki, managing director and president of Toyocolor Co., Ltd.; Satoru Takashima, director and president of Toyochem Co., Ltd.
Number of Employees: 8,135 (consolidated).
Comments: Led by its packaging and UV inks, Toyo Ink Group had a solid year in 2017, as the company reported sales of $1.3 billion (¥145.9 billion) from its Printing and Information and Packaging Materials businesses, and consolidated sales of $2.49 billion (¥280.1 billion) overall.
Haruhiko Akutsu, GM, Commercial and Publication Business Department, Global Business Division for Toyo Ink Co., Ltd., said that gravure inks for packaging fared well in Japan.
“Although domestic demand for gravure inks for publication continued to decline, domestic sales of mainstay gravure inks for packaging mainly for private brand applications and convenience stores were strong,” Akutsu observed. “Domestic sales of gravure inks for construction materials also increased. Overseas sales increased in North America, Central and South America, India, and other regions despite sluggish demand in China due largely to environmental regulations.”
Domestic demand for inks for commercial printing of circulars and other materials, existing information publications including newspapers and magazines, and related materials remained weaker than expected. A decline in capacity utilization at printing companies in China and Southeast Asia due to an economic slowdown and environmental regulations also caused a fall in sales.
“Regarding the Printing and Information Business, given the shrinking domestic information-related print market associated with the progress of digitization, the group sought to optimize our business scale by product line and streamlined products in Japan, while bolstering sales overseas by expanding global bases,” added Akutsu. “Meanwhile, we focused on the development and sale of highly sensitive UV ink using leading-edge technology and other products such as inkjet ink for on-demand printing, thereby facilitating business growth.”
In an important move, Toyo Ink Group and its domestic subsidiaries changed their fiscal year end from March 31 to Dec. 31, which is the same as that of its overseas subsidiaries. The new fiscal year end was applied from fiscal 2017. Also in 2017, the Toyo Ink Group unveiled a new long-term vision, the Scientific Innovation Chain 2027 (SIC27), which was executed Group-wide on Jan. 1, 2018.
“The group decided that the value it would provide in the next 10 years until 2027 would be to create a more vibrant world, as reflected in the new company tagline ‘For a Vibrant World,’” Akutsu said. “Under this new vision, the group will strive to reform itself to build a corporate structure capable of achieving long-term sustainable growth and become a corporate group that contributes to the development of a world where all living beings and the environment coexist harmoniously.”
For its Packaging Materials business, Toyo Ink Group developed a product line of biomass inks using plant-derived raw materials and began sales in Japan. In addition to growing sales of water-based inks for flexible packaging in Japan and other Asian countries, Toyo Ink established a supply and sales promotion network for environmentally friendly products in the European market.
In its Printing and Information business, Toyo Ink promoted sales of new UV-curable ink products developed at a new plant built at the Fuji Factory in Japan for continuous production with pigments and developed the application of inkjet inks for on-demand printing.
“The Printing and Information Business will continue to develop and promote the sale of energy-saving type UV curable inks and increase the application of inkjet inks,” said Akutsu.
Toyo Ink is expanding its operations globally. In November 2017, the group announced plans to purchase land for the future expansion of its Turkish operations in Manisa, for a total investment of approximately $26.7 million. The land will be used to build not only a new manufacturing facility for the upgrading and expansion of existing R&D and production facilities but also to construct a new production site for polymers.
In June 2018, Toyo Ink SC Holdings announced plans to enter the Myanmar market with the establishment of a production base in Yangon.
“This July, we will be setting up a wholly-owned company Toyo Ink Myanmar Co., Ltd. with an initial paid-in capital of $6.5 million,” Akutsu said. “The new factory is scheduled to break ground in November 2018 with commercial operation expected to begin a year later.”
“The Toyo Ink Group enhanced our gravure ink production facilities in Malaysia and Vietnam to keep pace with increasing demand for packaging materials,” he added. “In addition, we continued with procedures to acquire land for new factory construction in Turkey, Mexico and Myanmar, in order to strengthen our supply systems and expand businesses in regions where demand is expected to grow. Plans are also underway to expand offset ink production in India and Brazil and extend business into peripheral countries.”
Akutsu noted that Toyo Ink has been taking actions to identify and evaluate alternative sources, broadening its geographic reach and diversifying supply, in response to the raw material challenges, but there still remain concerns.
“The coming year already looks to be a challenging one in terms of raw material availability and supply shortages,” Akutsu added. “Despite the supply turmoil and a soft first quarter, the outlook for the year overall is good. The impact of soaring prices of materials will continue, but it will be offset by an increase in sales volume and sales of high-function products.”
Akutsu also noted that Toyo Ink will continue its strong emphasis on environmentally friendly products.
“In response to a global increase in environmental awareness, we will further develop environmentally friendly packaging products and materials that are differentiated to meet needs by area, including water-based flexographic inks, electron beam-curable flexo inks for flexible packaging and biomass ink-based packaging for to-go foods at convenience stores,” Akutsu said. “Moreover, we will develop a supply system in regions where demand is growing by commencing the operation of additional gravure ink production facilities constructed in Southeast Asia at an early stage.”
Chuo-Ku, Tokyo 104-8377 Japan
Phone: +81-3-3272-5731
Fax: +81-3-3272-8688
http://schd.toyoinkgroup.com/en/
E-mail: info@toyoinkgroup.com
Sales: $1.3 billion in printing and information, and packaging materials (¥145.9 billion) Consolidated results: $2.49 billion (¥280.1 billion).
Major Products: Printing inks; newspaper inks; UV/EB-curing inks; gravure inks; flexo inks; screen inks,; highly reactive UV inks; metal decorating inks; hard coatings; graphic arts supplies; graphic arts equipment; can coatings; resins; adhesives; laminating adhesives; coating materials; pigments; processed pigments; plastic colorants; color filter materials; natural extracts.
Key Personnel: Kunio Sakuma, chairman; Katsumi Kitagawa, president and Group CEO; Katsumi Yamazaki, senior managing director and president of Toyo Ink Co., Ltd.; Hiroya Aoyama, senior managing director and CFO; Shuji Miyazaki, managing director and president of Toyocolor Co., Ltd.; Satoru Takashima, director and president of Toyochem Co., Ltd.
Number of Employees: 8,135 (consolidated).
Comments: Led by its packaging and UV inks, Toyo Ink Group had a solid year in 2017, as the company reported sales of $1.3 billion (¥145.9 billion) from its Printing and Information and Packaging Materials businesses, and consolidated sales of $2.49 billion (¥280.1 billion) overall.
Haruhiko Akutsu, GM, Commercial and Publication Business Department, Global Business Division for Toyo Ink Co., Ltd., said that gravure inks for packaging fared well in Japan.
“Although domestic demand for gravure inks for publication continued to decline, domestic sales of mainstay gravure inks for packaging mainly for private brand applications and convenience stores were strong,” Akutsu observed. “Domestic sales of gravure inks for construction materials also increased. Overseas sales increased in North America, Central and South America, India, and other regions despite sluggish demand in China due largely to environmental regulations.”
Domestic demand for inks for commercial printing of circulars and other materials, existing information publications including newspapers and magazines, and related materials remained weaker than expected. A decline in capacity utilization at printing companies in China and Southeast Asia due to an economic slowdown and environmental regulations also caused a fall in sales.
“Regarding the Printing and Information Business, given the shrinking domestic information-related print market associated with the progress of digitization, the group sought to optimize our business scale by product line and streamlined products in Japan, while bolstering sales overseas by expanding global bases,” added Akutsu. “Meanwhile, we focused on the development and sale of highly sensitive UV ink using leading-edge technology and other products such as inkjet ink for on-demand printing, thereby facilitating business growth.”
In an important move, Toyo Ink Group and its domestic subsidiaries changed their fiscal year end from March 31 to Dec. 31, which is the same as that of its overseas subsidiaries. The new fiscal year end was applied from fiscal 2017. Also in 2017, the Toyo Ink Group unveiled a new long-term vision, the Scientific Innovation Chain 2027 (SIC27), which was executed Group-wide on Jan. 1, 2018.
“The group decided that the value it would provide in the next 10 years until 2027 would be to create a more vibrant world, as reflected in the new company tagline ‘For a Vibrant World,’” Akutsu said. “Under this new vision, the group will strive to reform itself to build a corporate structure capable of achieving long-term sustainable growth and become a corporate group that contributes to the development of a world where all living beings and the environment coexist harmoniously.”
For its Packaging Materials business, Toyo Ink Group developed a product line of biomass inks using plant-derived raw materials and began sales in Japan. In addition to growing sales of water-based inks for flexible packaging in Japan and other Asian countries, Toyo Ink established a supply and sales promotion network for environmentally friendly products in the European market.
In its Printing and Information business, Toyo Ink promoted sales of new UV-curable ink products developed at a new plant built at the Fuji Factory in Japan for continuous production with pigments and developed the application of inkjet inks for on-demand printing.
“The Printing and Information Business will continue to develop and promote the sale of energy-saving type UV curable inks and increase the application of inkjet inks,” said Akutsu.
Toyo Ink is expanding its operations globally. In November 2017, the group announced plans to purchase land for the future expansion of its Turkish operations in Manisa, for a total investment of approximately $26.7 million. The land will be used to build not only a new manufacturing facility for the upgrading and expansion of existing R&D and production facilities but also to construct a new production site for polymers.
In June 2018, Toyo Ink SC Holdings announced plans to enter the Myanmar market with the establishment of a production base in Yangon.
“This July, we will be setting up a wholly-owned company Toyo Ink Myanmar Co., Ltd. with an initial paid-in capital of $6.5 million,” Akutsu said. “The new factory is scheduled to break ground in November 2018 with commercial operation expected to begin a year later.”
“The Toyo Ink Group enhanced our gravure ink production facilities in Malaysia and Vietnam to keep pace with increasing demand for packaging materials,” he added. “In addition, we continued with procedures to acquire land for new factory construction in Turkey, Mexico and Myanmar, in order to strengthen our supply systems and expand businesses in regions where demand is expected to grow. Plans are also underway to expand offset ink production in India and Brazil and extend business into peripheral countries.”
Akutsu noted that Toyo Ink has been taking actions to identify and evaluate alternative sources, broadening its geographic reach and diversifying supply, in response to the raw material challenges, but there still remain concerns.
“The coming year already looks to be a challenging one in terms of raw material availability and supply shortages,” Akutsu added. “Despite the supply turmoil and a soft first quarter, the outlook for the year overall is good. The impact of soaring prices of materials will continue, but it will be offset by an increase in sales volume and sales of high-function products.”
Akutsu also noted that Toyo Ink will continue its strong emphasis on environmentally friendly products.
“In response to a global increase in environmental awareness, we will further develop environmentally friendly packaging products and materials that are differentiated to meet needs by area, including water-based flexographic inks, electron beam-curable flexo inks for flexible packaging and biomass ink-based packaging for to-go foods at convenience stores,” Akutsu said. “Moreover, we will develop a supply system in regions where demand is growing by commencing the operation of additional gravure ink production facilities constructed in Southeast Asia at an early stage.”