On May 22, Toyobo announced that it will acquire Teijin's polyester film business. Correspondingly, Teijin will launch this business. The transaction includes Teijin's domestic subsidiary "Teijin Film Solutions (TFS)" and its wholly-owned subsidiary "ITFS" in Indonesia. The transaction value is about 10 billion yen (about 627 million yuan). The acquisition is expected It will be completed on October 1 this year.
Teijin entered the polyester film business in the 1960s, and Japanese media commented that although it is the global leader in white polyester film for LCD backlight reflectors, its profitability in recent years has increased as manufacturers from emerging countries entered the market. Decline.
Teijin said on its official website: Teijin has taken a number of measures to improve the competitiveness of the polyester film business, including strengthening its production base in the Utsunomiya office in 2016 and acquiring a joint venture between DuPont in Japan and Indonesia Enterprises, etc., but given the further development of TFS and ITFS, and the most appropriate allocation of Teijin Group's operating resources, the company decided to sell the business.
In addition to acquiring industrial film production bases, Toyobo also said that it will develop new products and applications to expand the field of film business.
It is understood that the business scope of TFS companies is mainly the production and sale of industrial films. They have unique products, such as release films for ceramic capacitors and polyethylene naphthalate films for automotive insulation.
Toyobo's executive director Mr. Morige mentioned: "The Utsunomiya office of TFS will be added near the production base. In addition to Fukui and Aichi, bases can also be established in Kanto."
In addition, the company also revealed that Toyobo will continue to invest to meet the growing demand for ceramic capacitor release films in the context of automotive motorization and 5G.
It is understood that this release film is a release film for MLCC. For automobiles, with the further improvement of intelligence, the demand for MLCC is constantly increasing. For mobile phones, because of the substantial increase in communication frequency bands, It will also increase the number of MLCCs.
Relevant agencies analyze that, driven by these two industries, the explosive growth of MLCC demand will be an inevitable trend in the next few years. By 2022, the annual global MLCC demand will exceed 8 trillion.
And this also brings huge opportunities for MLCC release film. Its role is to apply silicone release agent to the surface layer of PET polyester film, and to carry the clay layer during cast coating. It is a high consumable in the MLCC manufacturing process, and at the same time, it has a very smooth property. High requirements. This has led to a high degree of industrial concentration of MLCC release films, and the main manufacturers are located in Japan and South Korea.
The film chain observed that in November 2018, Teijin also decided to increase the production of release films for MLCC manufacturing in the PET film plant in Indonesia.
However, according to industry sources, Teijin's Indonesian factory's ITFS revenue is not good. In mid-2018, its net profit was almost zero, while Teijin's Japanese factory TFS net profit was about 1 billion yen (about 62.675 million yuan) ).