The New Projects Development Division was launched in 1991 to integrate technology and business development beyond conventional business fields. While individual research centers in the R&D Division do basic research, this Division uses the project system format for short-term resolutions to technical themes and commercialization. The results directly link research fruits to new products and businesses.

This Division has succeeded in getting full-fledged color filter and water purification businesses off the ground, with Toray affiliates cultivating an industrial printer business to expand that progress. It vigorously promotes business alliances with other companies as well, such as a joint venture with Matsushita Electric Industrial Co. Ltd. to further grow the plasma display panel (PDP) business. Among recent themes, the Division is turning to commercialization of low-molecular organic electro luminescence (EL) materials, high density flexible circuits, CMP polishing pads and other futuristic technologies and products.