TOKYO & SHANGHAI--(BUSINESS WIRE)--Teijin Limited (TOKYO:3401) announced today the establishment of Teijin (China) Investment Co., Ltd. in Shanghai to reinforce and expand business, including through investment, in the Chinese market, one of the key markets in Teijin's future growth plans.
The company will oversee the strategic expansion of the Teijin Group in the rapidly evolving Chinese market, aiming to further leverage the group's comprehensive strengths while simultaneously pursuing strategic mergers and acquisitions from a medium- to long-term perspective. The goal is to expand sales in the Chinese market by three to four times the current scale of approximately 100 billion yen by around 2020.
The new company is succeeding Teijin Group China Management Limited as Teijin's management headquarters in China. Teijin (China) Investment is certified for business on a national level, whereas its predecessor, which eventually will be dissolved, has only regional certification. In addition to managing investment activities, the new company will provide centralized guidance and oversight of group-wide marketing and branding, government relations, funds acquisition and other financing, and other key functions, creating a common platform for the further expansion of the Teijin Group in China.
Teijin (China) Investment is a wholly owned subsidiary of Teijin Limited, capitalized at 30 million U.S. dollars. It is represented by Chairman Junji Morita, concurrently Managing Director & CMO, Teijin Limited, and Vice Chairman Izumi Yamamoto, concurrently President, Teijin Group China Management. The company is located at Room 2708, Shanghai International Trade Center, 2201 Yan-an Road (West), Shanghai.
The Teijin Group entered the Chinese market relatively early to begin producing polyester fiber in the 1970s, and since then has built bases for production, sales and marketing in Beijing, Shanghai and other major cities. Local investments began in 1994 with the establishment of Nantong Teijin Co., Ltd. in Jiangsu Province to process polyester filament textiles, followed by N.I. Teijin Shoji (Shanghai) Co., Ltd. to market fiber and chemical products in 1996 and Teijin Polycarbonate China Ltd. in Jiaxing, Zhejiang Province to manufacture and sell polycarbonate resin in 2003.
Today Teijin operates 12 group companies with approximately 2,000 employees in mainland China, encompassing the fields of aramid fibers, polyester fibers, films, plastics, medical and pharmaceuticals and distribution products.
About the Teijin Group
Based in Tokyo and Osaka, Japan, Teijin is a global technology-driven group operating in five main fields: synthetic fibers (aramid fibers, carbon fibers and polyester fibers); films and plastics; pharmaceuticals and home health care; trading and retail; and IT and new products. Teijin Limited, the holding company for the Teijin Group, is listed on the Tokyo and Osaka stock exchanges. The group had consolidated sales of USD 8.5 billion (JPY 765.8 billion, USD 1=JPY 90) in fiscal 2009 and employs 18,778 people worldwide, with 156 companies around the world. Please visit www.teijin.co.jp/english
Rie Mashiba, +81-3-3506-4055
Public Relations & Investor Relations Office