Notice Regarding Decision to Make Toray Tonen Specialty Separator Wholly Owned Subsidiary

january 23 2012

Toray Industries, Inc. apprised that it made a decision to make Toray Tonen Specialty Separator Godo Kaisha, a 50-50 joint venture with Tonen Chemical Corporation and Tonen Chemical Nasu Corporation Toray’s 100% owned subsidiary through redemption of the interest held by ExxonMobil Group.

The reasons behind the change in the stakes are Battery separator film (BSF) produced and sold by Toray Tonen Specialty Separator is a key part of lithium ion batteries (LIBs). LIBs are used in various mobile communication tools including mobile phone handsets and notebook PCs and are expected to continue growing in the future as the use of these electronic devices becomes even more wide-spread around the world and the devices themselves become more sophisticated. Moreover, LIBs have been adopted for electric and hybrid vehicles in recent years and this application is also expected to grow further.

Toray Buys Remaining Shares in French Carbon Fiber Manufacturing and Sales Subsidiary

Toray Industries, Inc. President and CEO, Akihiro Nikkaku apprised that it purchased the remaining shares in Societe des Fibres de Carbone S.A. (“SOFICAR”), a subsidiary engaged in manufacturing and sales of carbon fibers in France, in which Toray held a 70% stake, from Arkema, the French business partner with a 30% stake in SOFICAR and made it into a wholly owned subsidiary. Along with the purchase of the remaining stake, Toray is renaming SOFICAR as Toray Carbon Fibers Europe S.A. in order to show its strong commitment to European customers and end-users as the Toray group company.

SOFICAR was established in 1982 as a joint venture with Elf Aquitaine (investment ratio: 35% by Toray and 65% by Elf Aquitaine). Since Toray increased its stake to 70% in 1988, SOFICAR has been expanding its business as the strategic base of Toray’s carbon fiber composite materials business in Europe.

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