Toray Industries, Inc. (Tokyo) has decided to divest its equity interest in Soda Aromatic Co., Ltd., by transferring its shares to Samyang Corp. Japan, Inc. Soda Aromatic, which manufactures and sells flavors, fragrances and related products, is currently held 66% by Toray and 34% by Mitsui & Co., Ltd. The transaction has an enterprise value of ¥41 billion. The actual transfer price will be determined at closing, with adjustments for Soda Aromatic’s net interest-bearing debt, working capital, and other items.
Toray and Mitsui have decided to transfer all shares of Soda Aromatic to Samyang Corporation Japan, Inc., a subsidiary established by Samyang Corporation of the Republic of Korea, and entered into a share transfer agreement. The Transaction is being undertaken as part of Toray’s business portfolio restructuring and is scheduled to close within the first half of the fiscal year ending March 2027, subject to approvals from the relevant regulatory authorities and other customary conditions.