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Toyo Ink Group to Establish Production Base in Myanmar

June 12, 2018

Toyo Ink SC Holdings Co., Ltd., the parent company of the Toyo Ink Group of Japan, today announced plans to make a full-fledged foray into the Myanmar market with the establishment of a production base in the Thilawa Special Economic Zone in Yangon. The company plans to set up in July 2018 a wholly-owned manufacturing subsidiary, Toyo Ink Myanmar Co., Ltd., with an initial paid-in capital of US$6.5 million. The new factory is scheduled to break ground in November 2018 with commercial operation expected to begin in November 2019.

In line with its strategic focus on strengthening its market competitiveness and boosting business development in the region, the Toyo Ink Group had been eyeing expansion in Myanmar while supplying the nation with exports via neighboring countries. In recent years, the government's aggressive policies to attract foreign funding, such as infrastructure enhancements and the relaxation of import restrictions, have substantially strengthened Myanmar's investment climate, making it an attractive investment destination.

“Myanmar presents a huge potential for the Toyo Ink Group,” said Katsumi Kitagawa, Group CEO of Toyo Ink Group. “As the first major ink manufacturer to set up a production foothold in Myanmar, we look forward to establishing an early leadership position in markets where we can play to our strengths like food packaging and commercial printing. By bringing our manufacturing expertise, cutting-edge technology and support functions to the local market, we aim to make a positive impact on regional development and on enhancing the quality of life of the Myanmar people.”

Initially, the new subsidiary will be engaged in the production of liquid inks for packaging, adhesives for films, and offset inks for the commercial printing market. While monitoring market and regulatory trends, the company plans to expand production capacity and product offerings in Myanmar.

The Toyo Ink Group has expanded its business to a wide array of global markets like panel displays, electronics, food packaging and medical adhesives, all of which rely on its core materials of inks, polymers and colorants. Through its business activities, the Group is committed to achieving its collective vision of a more vibrant world where all living beings and the environment can coexist in harmony.

About Toyo Ink SC Holdings Co., Ltd.

Headquartered in Tokyo, Toyo Ink SC Holdings Co., Ltd., the parent of the Toyo Ink Group of companies, is a scientific company with specialty chemicals at its core. Originally starting out as a printing ink manufacturer in 1896, the company is a developer and marketer of its own unique specialty chemical materials based on functional pigments and polymers, the raw materials in printing inks. The Toyo Ink Group operates its corporate activities under four business segments—Colorants and Functional Materials, Polymers and Coatings, Packaging Materials, and Printing and Information—while it expands applications to the healthcare, electronics devices, energy and related sectors. For more information, see schd.toyoinkgroup.com/en/.

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