Toyo Ink SC Holdings Merges Two Taiwan Subsidiaries
Wednesday, March 18, 2015
Press release from the issuing company
Tokyo, Japan and Taipei, Taiwan - Toyo Ink SC Holdings Co., Ltd. (President Katsumi Kitagawa) announced today that, effective December 31, 2014, 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.
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