• TOYO-MORTON, LIMITED Becomes Wholly Owned Subsidiary

TOYO INK MFG. CO., LTD. (the “Company”) announces that it has acquired Rohm and Haas Chemical’s stake in TOYO-MORTON, LIMITED (“Toyo-Morton”). Toyo-Morton, a consolidated subsidiary of the Company, has been jointly owned with a subsidiary of Rohm and Haas Chemicals LLC of the United States. Details are as follows:

1. Reasons for this acquisition
   Toyo-Morton is a joint venture between a subsidiary of Rohm and Haas Chemicals LLC and the Company and principally operates in the manufacturing and sale of lamination adhesives. The Company decided to acquire its partner’s stake to strengthen the Company’s ability to make proposals to its customers and to develop the adhesive business through an alliance between the business of Toyo-Morton and the Company’s packaging print ink. This is part of a management policy based on the Company’s vision under SCC2017, its long-term plan.
    
2. Method of acquisition
   The Company has acquired 50% stake of Toyo-Morton owned by Rohm and Haas Chemicals Group (50% of shares outstanding), making it a wholly owned subsidiary.
    
3. Overview of Toyo-Morton

   Location	3-13, Kyobashi 2-chome, Chuo-ku, Tokyo
   Representative	Susumu Miyashita, Representative Director, President
   Major business	Manufacture and sale of lamination adhesives
   Number of employees	44

    
4. Date of acquisition

   June 1, 2010:

   Conclusion of share transfer agreement (termination of joint venture)

    
5. Effect on business
   Toyo-Morton is a consolidated subsidiary and the effect on the consolidated results of this term will be negligible.
    

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