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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Toyobo Co., Ltd.    3101   JP3619800000

TOYOBO CO., LTD.

(3101)
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1510 JPY   +0.67%
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Toyobo Co Ltd : Manufacturing Plant for Copolyester Resin VYLON® Goes into Full Operation in the Kingdom of Thailand —TOYOBO CHEMICALS (Thailand) Co., Ltd., Holds Opening Ceremony for the Plant

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01/09/2014 | 02:01am EST
Jan 9, 2014

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Founded as a joint venture in Thailand with Mitsubishi Corporation (MC) (Headquarters: Chiyoda-ku, Tokyo; President and CEO, Ken Kobayashi), TOYOBO CHEMICALS (Thailand) will begin full-scale operation at its manufacturing plant for copolyester resin VYLON® in January 2014.

Prior to going into full operation, TOYOBO CHEMICALS (Thailand) held an opening ceremony for the plant on December 19, 2013.

1. Background of the Plant Opening

Thus far, Toyobo has manufactured copolyester resin VYLON® in Japan and has sold this product to users within Japan and overseas. In recent years, however, Japanese as well as European and U.S. companies have begun local production in China and the countries of ASEAN, India, and elsewhere in the Asian region. In addition, the number of locally based companies newly entering the market is increasing.

In view of the circumstances, to expand sales of VYLON® into the electronics-related markets, Toyobo and MC have established a marketing and manufacturing joint venture in Thailand, which offers a well-developed infrastructure and convenient distribution capabilities. TOYOBO CHEMICALS (Thailand) is now making final preparations for the commencement of full-scale production of VYLON® in Thailand.

2. Features of VYLON®

VYLON® is the copolyester resin that is used as a material in the production of paints, inks, industrial adhesives, and other products. It finds application in a wide range of products and is indispensable as an industrial material.

Principal applications include adhesives, coating materials, metal can coating, wire coatings, film surface modifiers, and conductive silver paste.


Opening ceremony for the new plant

3. Schedule Going Forward

Looking ahead, Toyobo will make TOYOBO CHEMICALS (Thailand) a base for its functional plastics business in China, ASEAN countries, and India and has set an annual sales target of ¥5.0 billion in 2016 for the joint venture.

4. Outline of TOYOBO CHEMICALS (Thailand)

Company name: TOYOBO CHEMICALS (Thailand) Co., Ltd.
Date of establishment: August 2012
Paid-in capital: Approximately ¥1.2 billion
Share ownership: Toyobo: 85%, MC: 15%
Location: Amata Nakorn Industrial Estate, Chonburi Province, Thailand
Lines of business: Manufacture and sale of copolyester resin VYLON®

VYLON® is used as an adhesive for surface films in flat cables that are used in printers and other devices.

For more information, contact:
The Toyobo Public Relations Group

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Financials (JPY)
Sales 2020 342 B
EBIT 2020 23 400 M
Net income 2020 14 852 M
Debt 2020 154 B
Yield 2020 2,65%
P/E ratio 2020 9,03x
P/E ratio 2021 10,7x
EV / Sales2020 0,84x
EV / Sales2021 0,83x
Capitalization 134 B
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Mean consensus BUY
Number of Analysts 6
Average target price 1 943,33  JPY
Last Close Price 1 510,00  JPY
Spread / Highest target 49,7%
Spread / Average Target 28,7%
Spread / Lowest Target 5,96%
EPS Revisions
Managers
NameTitle
Seiji Narahara President & Representative Director
Ryuzo Sakamoto Chairman
Taketoshi Oka Independent Outside Director
Masaru Watanabe Representative Director
Shigeo Takenaka Director & Managing Executive Officer
Sector and Competitors
1st jan.Capitalization (M$)
TOYOBO CO., LTD.0.67%1 213
AIR LIQUIDE5.98%71 321
SAUDI BASIC INDUSTRIES CORPORATION SJSC--.--%67 177
LYONDELLBASELL INDUSTRIES N.V.-15.70%27 655
WANHUA CHEMICAL GROUP CO., LTD.-8.47%22 965
NAN YA PLASTICS CORP--.--%18 211