Toray Industries, Inc. (headquarters: Chuo-ku, Tokyo; President: Akihiro Nikkaku; hereinafter referred to as “Toray”) announced today that it has made a decision to absorb Toray Battery Separator Film Co., Ltd. (hereinafter referred to as “Toray BSF”), a wholly owned consolidated subsidiary that manufactures and markets separators for lithium-ion secondary batteries (LIB) effective April 1, 2017.
The merger is a simplified merger of a wholly owned subsidiary and therefore some of disclosure items and contents are omitted.
1. Purpose of the merger
In the LIB market, the business environment is significantly changing as the demand for electric vehicles are expected to grow rapidly in addition to the existing consumer electronics applications, which makes it even more important to have the ability to quickly respond to the growth and sophistication of functions of separators for LIB. Based on this recognition, Toray decided to absorb Toray BSF to strengthen the foundation of the structure to appropriately respond to the LIB separator business. The LIB separator business is one of the key businesses of Green Innovation Business Expansion Project, which Toray is strongly driving forward to support the transformation into a sustainable recycling-oriented society. The company will promote its technology development and business expansion by leveraging the collective strength of Toray Group along with other new energy-related businesses.
