Rengo : Reorganizes Water-Based Flexo Printing Business of Its Subsidiaries
July 13, 2023
Share
July 14, 2023
Rengo Reorganizes Water-Based Flexo Printing Business of Its Subsidiaries
Rengo Co., Ltd. announces that its consolidated subsidiary Howa Sangyo Co., Ltd. will take over the water-based flexo printing business of Kinyosha Printing Co., Ltd. and Marufuku Co., Ltd., both of which are also subsidiaries, on August 1, 2023.
Howa Sangyo engages in manufacturing and sales of flexible packaging products that are closely related to daily life such as food and daily necessities, and develops a product line using gravure printing. On the other hand, water-based flexo printing, which Kinyosha and Marufuku have been engaged in, is an environmentally friendly printing technology with low emissions of CO2 and volatile organic compounds (VOCs) and can print clearly on paper, nonwoven fabrics, and other materials in addition to plastic film.
By consolidating the water-based flexo printing business into Howa Sangyo, which has a wealth of know-how regarding the manufacturing and sales of flexible packaging products, the Rengo Group will accelerate the development of environmentally friendly products and strengthen its structure to respond to diversifying user needs. As a result of this business transfer, Rengo will acquire the shares of Kinyosha held by Howa Sangyo.
Through this reorganization, Kinyosha will concentrate its management resources on the media package business, while Marufuku will concentrate its management resources on the folding carton business. The two companies will collaborate with the related business locations of the Rengo Group and strive to achieve further business expansion.
President and Chief Executive Officer Yoshitaka Ozawa
Capital
500 million yen
Shareholder
Rengo Co., Ltd. 100%
Main business
Manufacturing and sales of flexible packaging products
Net sales
Approx. 76.3 billion yen (fiscal year ended March 2023)
Number of employees
1,247
Overview of Kinyosha Printing Co., Ltd.
Location
2-8-4 Unoki, Ota-ku, Tokyo
Representative
President Shigeru Kurimoto
Capital
100 million yen
Major shareholders
Rengo Co., Ltd. 50.1%
Howa Sangyo Co., Ltd. 20.0%
Main business
Manufacturing and sales of media packages for audio/visual/game software, etc., flexible packaging products using water-based flexo printing, and construction materials
Net sales
Approx. 6.8 billion yen (fiscal year ended March 2023)
Representative Director & President Teruo Fukushima
Capital
42 million yen
Shareholder
Rengo Co., Ltd. 100%
Main business
Manufacturing and sales of folding carton products using offset printing, flexible packaging products using water-based flexo printing, and plastic molding products
Net sales
Approx. 1.4 billion yen (fiscal year ended March 2023 (six months))
Rengo Co. Ltd. published this content on 14 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 August 2023 07:18:26 UTC.
Rengo Co., Ltd. is a paper box manufacturer. The Cardboard and Paper Processing-related segment manufactures and sells paperboard, corrugated board and corrugated boxes in domestic markets. The Soft-type Packaging-related segment manufactures and sells soft-type packaging products and cellophane in domestic markets. The Heavy Duty Packaging-related segment manufactures and sells heavy duty packaging products in domestic markets. The Overseas-related segment manufactures and sells paperboard, corrugated board, corrugated boxes, soft-type and heavy duty packaging products in overseas markets. The Others segment is engaged in the manufacture of nonwoven cloth, the logistic business, insurance agency business, lease business and real estate business.