Toyo Ink SC Holdings Co., Ltd. (President Katsumi Kitagawa)
announced today that, effective January 1, 2015, it has merged two wholly-owned
subsidiaries Toyo Ink Chemicals Taiwan Co., Ltd. and Toyo Ink Taiwan Co., Ltd.
into a single operating entity. The reorganization also resulted in a name
change of the newly formed company and a relocation of its head office.
The merger entailed the absorption of Toyo Ink Taiwan, which
imported and sold Toyo Ink Group color and functional materials, polymers and
coatings, into the structure of the successor company Toyo Ink Chemicals
Taiwan, which manufactured and sold resist inks used for LCD color filters.
Thereafter, Toyo Ink Taiwan was dissolved, and the name of the successor entity
was changed to Toyo Advanced Science Taiwan Co., Ltd.
With this move, the Toyo Ink Group aims to strengthen and
deepen its market presence in the Taiwan region by speeding up and reinforcing
new product development and customer response time. In addition, the Group is
looking to further boost customer and consumer satisfaction while advancing its
businesses not only in Taiwan but also those in the China and Southeast Asia
region.
Toyo Advanced Science Taiwan engages in the manufacture and
sale of color resist inks for LCDs as well as the import and sale of printing
inks, printing-related materials, pigments, optical materials and adhesives.
The company was established with a paid-in capital of 600 million Taiwan
dollars and a head office located at No. 318, Songjiang Road, 6th floor, in the
Zhongshan District of Taipei City. Osamu Ohtake, the former president of Toyo
Ink Chemicals Taiwan, serves as president of the newly formed entity.
This merger is between two wholly-owned
subsidiaries of Toyo Ink SC Holdings and, therefore, has no impact on the
company’s consolidated business performance.
