Notice regarding the dissolution of a Thai subsidiary
Toyobo Co., Ltd. (the Company, hereafter) has decided to dissolve Toyobo Industrial Material (Thailand), Ltd. (TIM), a subsidiary based in Bangkok, Thailand, which is engaged in the sales of base fabric for automobile airbags, around the end of March 2026. The details of the dissolution are as follows.
The Company is integrating its production hubs in Thailand to realign and strengthen its airbag-related businesses, having established an integrated production system for airbag yarn and fabrics through Toyobo Indorama Advanced Fibers Co., Ltd. (TIAF) and Toyobo Saha Safety Weave Co., Ltd. (TSSW).
The Company’s latest strategy for integrated production will transfer TIM’s sales function to TSSW, thereby consolidating the fabric manufacturing and sales operations within TSSW to enhance operational efficiency as well as client support and service. Looking forward, the Company is committed to supplying airbag products from its Thai base to not only Asian but also global markets, while addressing a wide range of client needs.
Note
１．Overview of the subsidiary to be dissolved
| - Company name: | Toyobo Industrial Material (Thailand) Ltd. (“TIM”) |
| - Location: | 159/31 Serm-mit Tower 19th Floor, Unit 1901/3, Sukhumvit 21 Road (Asoke), North Klongtoey, Wattana, Bangkok 10110, Thailand |
| - Representative: | Representative Director and President, Tatsuki Wada |
| - Capital: | 100 million baht |
| - Stake: | 100% held by Toyobo Co., Ltd. |
| - Operation: | Sales of basic fabric for airbags |
| - Established: | 2001 |
２．Dissolution and liquidation schedules
| - | The end of operations and the start of the liquidation procedure are scheduled for the end of March 2026. |
| - | Liquidation is expected to be completed once the necessary procedures are finalized in accordance with local laws and regulations. |
３．Impact on business performance
| We expect the impact of the subsidiary’s dissolution on the Company’s stand-alone and consolidated business performance to be minimal, but we will promptly disclose any information deemed necessary. |
(End)
For more information, contact
Public Relations Group, Corporate Communication Department, Toyobo Co., Ltd.
MAILpr_g@toyobo.jp
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