Tokyo, Japan, January 24, 2017 --- Teijin Limited announced today that it would acquire an 86% share of a medical company spun off from Takiron Co., Ltd. and rename the company Teijin Medical Technologies Co., Ltd. on July 3. Teijin Group materials technologies and sales capabilities will be integrated into the new company to develop its business in implantable medical products.
Teijin Medical Technologies will work to expand the sales, profitability and brand recognition of Takiron’s high-quality, extra-strong bioresorbable implants, such as OSTEOTRANS-MX bone-bonding material. The new company will leverage the orthopedics-marketing capabilities of Teijin Pharma Limited, the core company of Teijin’s healthcare business, and the knowhow of Teijin Nakashima Medical Co., Ltd., which develops, manufactures and distributes medical devices, such as artificial joints.
In particular, Teijin Medical Technologies will be strengthened with Teijin Nakashima Medical’s core competencies in design and processing, as well as various material technologies from within the Teijin Group.
A formal agreement for the share acquisition will be signed on January 24 and the actual transaction will take place on July 3. Takiron, which currently wholly owns the business, will retain a 14% share following the acquisition by Teijin.
Teijin’s Resin & Plastic Processing Business Unit has existing business connections with Takiron.
New Company (to become "Teijin Medical Technologies")
|Location||Osaka City, Osaka Prefecture, Japan (estimate)|
|President||To be announced following share acquisition|
|Capital||JPY 100 million (estimate)|
|Main business||Development, manufacture and sale of bone-bonding materials|
Factory: Yasutomi-cho, Himeji City, Hyogo Prefecture
Sales offices: Tokyo and Osaka
Representative offices: Sendai, Nagoya and Fukuoka
The Teijin Group's global businesses include high-performance materials focused on polymeric chemistry, as well as drugs and home healthcare. The company is actively pursuing new business development by leveraging synergies among its diverse business domains, such as the integration materials and healthcare technologies. In April 2015, Teijin established Teijin Nakashima Medical as a joint venture with Nakashima Holdings Co., Ltd. to expand its business with implantable medical devices.
Takiron (TSE: 4215) specializes in the manufacture and sale of various plastics and products that which incorporate these plastics. Its products center on polyvinyl chloride (PVC) but also employ plastics such as polycarbonate, acrylonitrile butadiene styrene (ABS), acrylic, polyethylene, polypropylene, polyester and polystyrene. Takiron manufactures and sells genuine plastics products and composite materials incorporating wires, steel tubes and glass fibers. It also markets finished products that incorporate Teijin plastic products, for which it provides related installation and support services. Takiron posted sales of JPY 72.96 billion in the fiscal year ending March 31, 2016.
About the Teijin Group
Teijin (TSE: 3401) is a technology-driven global group offering advanced solutions in the areas of sustainable transportation, information and electronics, safety and protection, environment and energy, and healthcare. Its main fields of operation are high-performance fibers such as aramid, carbon fibers & composites, healthcare, films, resin & plastic processing, polyester fibers, products converting and IT. The group has some 150 companies and around 16,000 employees spread out over 20 countries worldwide. It posted consolidated sales of JPY790.7 billion (USD 7.4 billion) and total assets of JPY 823.4 billion (USD 7.7 billion) in the fiscal year ending March 31, 2016.
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Information in the press releases is current on the date of the announcement.
It is subject to change without prior notice.