Toppan and Tomoegawa Enter Joint Venture Manufacturing Agreement
Joint venture manufacturing company establishedOn December 10, 2009 Tomoegawa Co., Ltd. and Toppan Printing Co., Ltd. agreed to the terms of the establishment of a joint venture manufacturing company for display surface treatment film by merging the two companies' production sections.
Tomoegawa and Toppan Printing agreed on a Capital and Business Alliance Agreement in April 2009, and have been pursuing a concrete business alliance that will utilize the strengths of both companies in the field of surface treatment films for displays.
The two companies came to an agreement after concluding that establishing a joint venture would enhance their competitiveness in the market. Specifically, it is anticipated that the joint venture will result in 1) improved production capacity; 2) enhanced product lines; 3) strengthened sales and marketing forces through the enhancement of the sales network; and 4) improved productivity and efficiency in product development through the fusion of technologies.
In addition to responding to customers' various needs through the sales activities of both parties, the new company will contribute to the development of the display film industry by fully utilizing the accumulated technologies and production capacities of the two parent companies.
Background to the Alliance As the LCD-TV market grows, the market for display surface treatment film is also growing.
As global competition for LCD-TV products intensifies, demands for enhanced functions and lower cost products are rapidly increasing. The display surface treatment film market is no exception. Success in this market requires a carefully devised business strategy for future growth, in addition to increased productivity, and products with enhanced functions and higher performance.
Tomoegawa and Toppan Printing have agreed to establish a joint venture to improve competitiveness and ensure further growth of the display surface treatment film business.
Overview of the new company -Company name: Toppan TOMOEGAWA Optical Products Co., Ltd.
-Representative: President and CEO Kiyoshi Otsuka
-Paid-in capital: 400 million yen (Toppan 80%; Tomoegawa 20%)
-Business start date: Planned for February 1, 2010
-Location of head office: 1-5-1 Taito, Taito-ku, Tokyo
Inquiries:
Public Relations Department, Public Relations Division, Toppan Printing Co., Ltd.
Tel: 03-3835-5630
Corporate Development Division, Tomoegawa Co., Ltd.
Tel: 03-3561-7132
Toppan Printing; head office: Chiyoda Ward, Tokyo; President and CEO: Naoki Adachi
Tomoegawa; head office Chuo Ward, Tokyo; President & CEO: Yoshio Inoue