According to the share transfer agreement with Teijin, Toyobo officially acquired shares in Tesin Film Solutions (Tesin Film Solutions) and Indonesia Teijin Film Solutions (Indonesia: ITFS) on October 1.
At the special meeting of TFS and ITFS shareholders held on the same day, the company decided to change its brand name. TFS is changed to "Toyobo Film Solution" on the day, and ITFS will be changed to "Indonesia Toyobo Film Solution" in the middle of this month.
Public information shows that both companies acquired are engaged in the development of polyester film business. Toyobo will enhance the development and production capabilities of high-performance film products by strengthening TFS 'advanced development and production technology and a broad product lineup, and consolidate the film business foundation. In addition, by setting ITFS as a subsidiary, it further globalized the film business and strengthened its overseas production system.
Toyobo's vigorous development of the film business is not only in the acquisition of related film companies. In recent years, the company has developed in its original business and continuously developed new products and applications.
In industrial applications, Toyobo mainly produces various release films, such as those used for ceramic capacitors.
In April of this year, the company built the coating processing equipment for the release film of ceramic capacitors in the Shiga factory. It plans to install the No. 1 machine in operation this summer and add the No. 2 machine in the spring of 2021. Demand due to rapid growth. The company invested 6 billion yen (about 358 million yuan) in Units 1 and 2 to strengthen its production system. The company's goal is to double sales by fiscal year 2023.
Among PEN (polyethylene naphthalate) films, Toyobo provides insulating films for automotive and flexible printed circuit (FPC) applications.
In addition, Toyobo has developed a new material made by bonding original high heat-resistant polyimide (PI) film and fluororesin.
The new material is developed by combining low-dielectric fluororesin and PI film with good heat resistance and small reflective surface. It is thin and flexible, so this material can be used not only for 5G compatible smartphones and large flat panel displays (FPD), It is also suitable for large flexible displays such as organic EL (Electronic Light Emitting Devices).