Toray Industries, Inc. has made a decision to absorb Toray Battery Separator Film Co., 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.
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 the 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.
The signing and approval of the merger agreement is planned for December 2016.