Toagosei Group’s Adhesive Material segment comprises five main companies: Aron Packaging Co., Ltd.; Toagosei America Inc.; Elmer’s & Toagosei Co.; Toagosei (Zhuhai) Ltd.; and Toagosei Hong Kong Ltd. The segment produces instant adhesives (including the Aron Alpha and Krazy Glue brands), as well as functional adhesives (including reactive, hot-melt, and light-cure products) for applications in automotive, electronics, and other industries.
The Adhesive Material segment saw net sales decrease by 11.46% in 2023 compared to 2022 sales, reaching almost ¥12.41 billion (approximately $87.96 million). The company reports that its adhesives for automotive batteries for both hybrid and fuel-cell vehicles are being adopted in an increasing number of new vehicles, including Toyota. The company reported that in fiscal year 2023, sales of instant glue for industrial use increased due to automotive-related sales increasing. Demand for the company’s functional adhesives grew due to an increase in sales for automotive batteries.
Opening image courtesy of Bramantya W.J. / Creatas Video+ / Getty Images Plus.
No. 19 | Toagosei Group
Tokyo, Japanwww.toagosei.co.jp
President and CEO: Mikishi Takamura
Sources: annual report, investor presentation, company website, press releases
