resins & chemicals business - toray industries, inc

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June 4, 2020

Toray IR Day Medium-term Management Program “Project AP-G 2022”

Resins & Chemicals Business

Vice President, General Manager, Resins & Chemicals DivisionToray Industries, Inc.

Nobuyuki Inohara

1Copyright © 2020 Toray Industries, Inc.

Contents

I. General Information

II. Overview of Resins Business and Future Strategies

III. Overview of Chemicals Business and Future Strategies

2

I. General

(Contents)1. Review of “AP-G 2019”2. Trends in the Macroeconomic Environmental

Changes and Basic Strategies3. Business Expansion Project


1. Review of “AP-G 2019”

Resins Business ：Accelerate the expansion of operational bases worldwide, strengthen the global supply structure, expand sales of high-functional products

Chemicals Business：Strengthen competitiveness in the core businesses, acceleratethe commercialization of developing and new businesses bymaking timely investments of resources

Implemented the following measures in line with the basic strategies. However, business expansion plans fell short of the targets due to the downturn in the Chinese market caused by the trade friction between the US and China and the slowdown in automobile production outside Japan

Resins Business： Expanded production base in Europe and the US for the production of high-functional products, promoted full-scale development in India1) Expanded PPS compounding bases (US (TREC), Europe (Zoltek))2) Increased production capacity of polyolefin foam (TORAYPEF) (US (TPA))3) Established a new compounding base in India (TID) for sales and productionChemicals Business： Commercialized the new veterinary medicine RAPROSTM, improved profitability at Soda Aromatic Co., Ltd.

Progress in “AP-G 2019”

Basic strategies of “AP-G 2019”


2. Trends in the Macroeconomic Environmental Changesand Basic Strategies

1) Transportation / Mobility revolution, transformation in the automotive industry→resins for xEV, ADAS

2) Digital revolution, fifth generation mobile communication system (5G)→low dielectric materials, 3D printer-related materials

3) Regularization of a sustainable society→environment-related materials, recycling, reduction of greenhouse gas emissions

4) Population growth, society with decreasing birthrate and aging population→Life Science Business (agriculture-related, medical-care related, veterinary medicines)

1) Expand businesses in growth business fields (next-generation automobiles, 5G, etc.)2) Expand high-functional products globally3) Strengthen upfront development capabilities, and total solution proposal capabilities4) Promote efforts for the realization of a sustainable society

Changes in the Macroeconomic Environment

Basic Policies


3. Business Expansion Plans

- Net sales expanded steadily in FY 2017 and FY 2018 but from the latter half of FY 2018, marketconditions worsened due to the increased impact from the US-China trade friction.Automobile production volume saw negative growth for 2 consecutive years in FY 2018 and FY 2019.

- Towards 2022, plan to expand business by 28% compared with FY 2019 through “market growth andadvancement of business.”

6

II. Overview of Resins Business andFuture Strategies


II. Overview of Resins Business and Future Strategies(Contents)

1. Line-up of Toray Resin Products2. Value Chain of Resins Business3. Global Expansion of Toray Resins Business4. Business Expansion in Growth Business Fields

(Next-generation Automobiles)5. Business Expansion in Growth Business Fields

(Next-generation Communication (5G))6. Strategies for TORELINATM PPS Resins Business7. Expansion Strategies for TOYOLACTM ABS Resins8. Research and Technology Development9. Contribution to a Sustainable Society


PBT (TORAYCONTM)

PEEKPAI (TI polymerTM)

POM

PPABS (TOYOLACTM)

Super Engineering

Plastics

<Crystalline> <Amorphous>

：Toray product (brand name)

heat resistancePC

mPPE

price

FoundationBusinesses

CFRP(TORAYCATM resin)

StrategicallySales Expanding

Businesses

Semi-engineering Plastics

LCP (SIVERASTM)

PPS (TORELINATM)

Nylon 6&66&610 (AMILANTM)

Engineering plastics

liquid crystal polyester resin (LCP)

PPS resin

PBT resin

Nylon resin

Polyimide resin

ABS resin

1. Line-up of Toray Resin Products

Polyolefin foam


2. Value Chain of Resins Business

Toray Resins Business:Provide total solutions for the supply, design, and processing of products

Molding,Parts

AssemblyRaw material Polymerization

sales of base polymerCustomers’ business domains Toray’s business domains

Work together to become development partners to solve social problems

Compounding


3. Global Expansion of Toray Resins Business ①

Compounding bases

Polymerization, Compounding bases

PNR

TPM

Molding bases

STPS

TBPR

TPA

Toray Plastics Precision Co., Ltd.

Nagoya

Tokai

Shiga

TPPZ

TPSZ

TPCH

TTS

TPCD

TPSU

ITS Ehime

TRMX

TREC

Chiba

Toray PEF Products, Inc.

TAK

Sales companies

Polymerization bases

PEF foam processing base

TPPT

TREU / ZHU

TID

<Overseas Business>10 countries19 bases

Toray Resins Business Production and Sales Bases in and outside Japan


3. Global Expansion of Toray Resins Business ②Global policy of resin compounding business⇒Localize production at consumption areas. Establish production and sales bases globally, and conduct on-site development and technological support at the expanding technology centers.

Realize business expansion and further capacity increase through collaboration between the expanded production, sales, and technology bases

【Compounding increasing plans and results under the previous and current medium-term management program】

Country“AP-G 2019” “AP-G 2022”

FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022

Japan

China

ASEAN

India

Europe

Americas

Increased capacity of PA, PBT(Shenzhen, Suzhou 1 line each)

Established a technology center in Indonesia

Increase capacity of PA, PBT in Indonesia

Newly established a PPS base in Hungary

Newly established a PPS base in North America

Newly established a PA, PBT base in Chennai

Establish a technology center in Europe

Next capacity increase



Increase capacity of PPS in Nagoya


4. Business Expansion in Growth Business Fields(next-generation automobiles ①)Global production of xEVs is expected to reach 43 million cars in 2025 accounting for 46% of the total, among which are mostly HEVs and PHEVs whose number is expected to increase to 32 million.The number of standard ADAS equipped

cars are increasing in Japan, the US, Europe,and China, and is expected to increase to 84 million cars in 2030. (from the Yano Research Institute website)


Prerequisites: production volume 43 million cars (2025): hybrid, fuel-cell vehicles: fuel cell vehicles

: under development

Hydrogen tankProcessability,

ToughnessPA 180 t/y

Cooling deviceChemical resistance

PPS 1,100 t/y

Rotation sensorHeat cycle, Electrical strength

PPS 900 t/y

Lithium battery partChemical resistance,

Dimensional stability, ToughnessPPS 1,100 t/y

Capacitor caseElectrical strength

PPS 4,500 t/y

Power control unitHeat cycle, Electrical strength

PPS 2,250 t/y

Radar partLow dielectric,

Dimensional stabilityPBT 1,450 t/y

: ADAS related parts

Development of next-generation automotive materials （PPS, PBT）

4. Business Expansion in Growth Business Fields(next-generation automobiles ②)

: initial approval completed


8,500 98,000 241,000 792,000

1,745,000

2,856,000

4,134,000

0

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

2019 Forecast 2020 Estimation 2021 Estimation 2022 Estimation 2023 Estimation 2024 Estimation 2025 Estimation

Estimation of Number of 5G Communication Service Contracts (Source: Yano Research Institute Ltd.)

OthersUSAEUKoreaChinaTotal

5. Business Expansion in Growth Business Fields(Next-generation Communication)

4G 5GTransmissionlags large small

Transmission speed slow fastTransmission capacity small largeTransmissionloss small large

Increased demand for transmission-loss prevention

Development of “low-dielectric materials”

<5G smartphones>Nano-alloyed metal bonding ”PBT”

5G base stationlow dielectric PBT and PC for casings

<5G high-speed transmission FPC>LCP for solution film-forming

Focusing on solution film-forming, developed a proprietary LCP polymer with low dielectric features

Realized both waterproofing functionsthrough nanoalloy technologies, andlow-dielectric functions with low-dielectric co-polymer

Widely used in applications including low dielectric PBT polymers for casings and heat-resistant PPS for electronic parts

Development of low dielectric materials（PBT, LCP）

<5G base station>Highly heat-resistant PPS

electronic parts, Low dielectric PBT/PC alloy

(number of contracts)unit:K


6. Strategies for TORELINATM

PPS Resin Business ①(1) Global Market of PPS resin① Global demand for PPS resin

(unit: 10,000 tons)

Global demand is expanding by 5% annually on the back of growing needs in xEVs, automotive electronic components, and light-weighting propertiesSuper engineering plastics with long-term heat resistance, outstanding chemical resistance, and flame retardant propertiesAdopted in versatile applications including power semiconductors with increasing demand for energy-saving and labor-saving

②Global share for PPS resin (2019)(Toray estimation)

・東レはＰＰＳ樹脂世界販売シェア・東レはＰＰＳ樹脂世界販売シェア２５％で世界最大手メーカー。・樹脂事業だけでなく、繊維事業、フィルム事業にも展開する総合ＰＰＳメーカー。・世界唯一のモノマー/ポリマー/コンパウンド一貫生産メーカー。

(Toray estimation)

TORAY

The world’s only integrated manufacturer from monomer, polymer, and compoundingWorld’s largest PPS compounding company (market share at 27%)Comprehensive PPS manufacturer also engaged in fibers and films


Expand business as a global, comprehensive, and No.1 PPS manufacturer responding to social needs

Strength of materials

Strength of materials

With 2 types of polymer, has good advantage in its product line utilizing proprietary nanoalloy, carbon fiber technologies

Cross-linked

Linear

NanoalloyTM

ToraycaTM

×

PolymerProprietary technologies

Fibers, Films

Comprehensive Capabilites

Comprehensive Capabilites

Besides supplying materials, will develop solution proposals with comprehensive capabilities

materialmaterial evaluationevaluation CAE design processingprocessing

Total solution

AnalysisDesign

Resinification

Integrated raw materials development capabilitiesIntegrated raw materials development capabilities

Has the world’s only integrated raw materials production plant and manufacturing technology covering a broad range of development

ｎＳ

NaSH

ClClTORELINATM

Synthesis of raw materialsSynthesis of

raw materials Polymerization Compounding

Global networkGlobal network

Has global network leveraging strength in development, production and sales

Understanding needs

Understanding needs

DevelopmentHQ

ProductionSales

eg.: automotive cooling module


PPS Resin Business ②



PPS Resin Business ③Germany

Hungary

China

Thailand

Korea

Japan

America

TAK PPS TORELINATM

Zoltek PPS TORELINATM

TREU Technical Center

TREC Nylon・PBTPPS TORELINATM

TTS Nylon・PBT・PPS TORELINATM

Toray ABS・Nylon・PBTPPS TORELINATM

・LCP

Compounding base

Polymerization base

Technical Center

Sales base

TPSU (Suzhou) ABS・Nylon・PBT・PPS TORELINATM

TPSZ (Shenzhen) ABS・Nylon・PBT・PPS TORELINATM・LCP

TPCD (Chengdu) ABS・Nylon・PBT・PPS TORELINATM

Place production bases and technical centers globally, utilize nanoalloy technologies Place production bases and technical centers globally, utilize nanoalloy technologies and CAE analysis technologies and develop total solution proposals on a global basisWorld’s only manufacturer with polymer production bases in two countries (Japan, Korea) . Able to respond to BCP


7. Strategies for TOYOLACTM

ABS Resin Business ①

5% annual Growth

(1) Global Market of ABS resinGlobal demand for ABS resins in 2019 was 8.7 million tons expanding by 3% annuallyThe world demand for high-performance ABS resin market, our targeting ABS resins with transparent, heat-resistant, and chemical-resistant properties, isestimated at around 2.1 million tons expanding by 5% annually (both Toray estimation)

Toray has world No. 1 share (37% share) in transparent ABS resinsIncreased production capacity of transparent ABS resins by 75,000 tons/yr at TPM (Malaysia) keeping the world No. 1 positionExpand ABS resin business leveraging strength in cost competitiveness and adding high-performance with proprietary co-polymerization process and specialty AS resins

Global Market Share of Transparent ABS(2019 : Toray Estimation)


7. Strategies for TOYOLACTM

ABS Resin Business ②

A. Sales expansion of transparent ABS resin“Keep the world No. 1 share in transparent ABS”

【Advantages】

【Product grade strategies】Deliver highly impact-resistant, high-flow, and highly transparent gradesExpand business into growing markets with “medical grades” which only 2 companies own in the worldExpand the transparent “TOYOLACPARELTM utilizing our proprietary durable antistatic technology

B. Expansion of ABS for automobile painting and engineering plastic alloy

“Aim to achieve Asia No.1 share in ABS-based high-flow painting products”

【Advantages】

【Product grade strategies】Expand high-flow, high-flow painting ABS / polycarbonate alloy resinsExpand “Anti Squeak grade” for the quietness inside the carIncrease product grade with low coefficient of linear thermal expansion and high-rigidity using specialty fillers, replacing other materials

(2) No. 1 strategies for high-functional ABS resinStrength of materials Strength of materials Comprehensive powerComprehensive power

Competitiveness in the polymerization process

Stability in quality

2 production bases in Japan and Malaysia

Excellent painting properties with proprietary AS resinEnhance the grade with alloy technologies

Provide solutions with large molding machine and CAE

2 production bases in Japan and Malaysia


8. Research and Technology Development ① (NANOALLOYTM ）

Dispersion structure

Micelle structure

e.g. 1) PBT-basedNANOALLOY TM

Co-continuous structure 0

2

4

6

conventional materialPP-based alloy

Amou

nt o

f ene

rgy

abso

rptio

n (k

J)

Deformed flexibly at high-speed impact (non-destructive)⇒ expanded to sports applications

High

-spe

ed te

nsile

bre

akin

g el

onga

tion

(%)

e.g. 2) PA-based NANOALLOY TM

Shock-absorbing nylon

With its proprietary nanoalloy technology (NANOALLOY TM) Toray is developing advancedmaterials that respond to various customers’ needs, by designing grades that compensates for weaknesses, while utilizing the matrix polymer characteristics

Balance high energy-absorption and moldability⇒ Shock absorber

conventional materialPA6/rubber alloy

0

50

100

150

PBT-based

PA-based


Material development capabilities

Pursuit of ultimate performance

NANOALLOYTM, etc. Co-development with customers

CAE analysis support, etc.

Structure analysis support, etc.

Modularization, etc.

Drawing with X-ray CT scanningResinificationdesign with CAE

CAD

1) Example of a suction blow molding machine: German molding machine is installed and modified to mold narrow pipes

2) Original test mold is designed3) Exclusively developed and optimized

CAE analysis technology for 3D pipemolding

Case 1Design proposals of resin products through reverse engineering

Case 2Solution proposals for the development of resin pipes through the fusion of new processing method and proprietary CAE

Evaluation methodsProcessing development Product design

Additional processing proposals

3D pipe product

Create new processing methods, specific CAE and analysis technologies optimum for advanced development of resin productsProvide advanced total solutions to customers combining advanced materials with design proposals, etc.

8. Research and Technology Development ② (advanced materials and total solution)

Analysis technologies


Resin with the implementation of a movable cross-link polymer structure by applying NANOALLOYTM technology ⇒

Succeeded in the world’s first implementation of a movable cross-link polymer structure in polymer materialby applying molecular design and NANOALLOYTM technologyRealized advanced materials with dramatically improved energy absorption performance

8. Research and TechnoloyDevelopment ③ (“SHINAYAKA” tough polymer)

0

5

10

15

20

25

30

Polyamide Developed materialTe

nsile

bre

akin

g elo

ngat

ion

(%)

Low-temperature properties

Ring-shaped molecular

String-shaped molecular

PolyrotaxanePolymeric molecular

Movable cross-link polymer structurePolyrotaxane

1

PolyamideAchieved about 20x bending durability and about 6x breaking elongation properties compared with conventional materials

Room-temperature propertiesInput energy : 300 J

Application to non-reinforced plastics

2

Achieved breaking elongation properties by 5x or more and energy absorption properties by 4x or more compared with conventional materials

Polyamide(glass fiber 30%)

Developed material(glass fiber 30%)

Room-temperature propertiesInput energy : 3700 J

Application to glass fiber reinforced plastics

Developed material


Expand recycling → expand post-consumer, pre-consumer recycling (applications, customers, regions, methods)Advancement in recycling → develop chemical recycling technologiesMicroplastics issues → develop environmentally-friendly polymers biodegradable, marine biodegradable

Environmentally-friendly Materials(for the sustainable and recycling-based use of resources and production)

9. Contribution to a Sustainable Society ①

2010 2020 2030

Use of internal PET film waste, and fibers & textiles waste ➢ Expand suppliers and

materials, applications,customers, and regions

➢ Participation from theproduct design stage

Use of bottle-derived recyled PET, PC

Construct air conditioner fans to fans recyclingsystem

Chemical Recycling

➢ Research on the monomerization system ➢ Research on use of raw materials from

gasification and liquefaction recycling system Use of production process waste

Post / Pre-consumerrecyling

(material recycling)

Environmentally friendly

polymers

➢ Develop biodegradable polymers, and marine biodegradable polymers

➢ Develop high-functional biopolymers

Expand PA610 applications.Develop biopolymers drop-in type, etc.

Paris AgreementMicroplasticsIssue

Pre-consumer

Post-consumer / Open-loop recyling

Post-consumer / Closed-loop recycling


9. Contribution to a Sustainable Society ②

Establish a circulation-type recycling system through collaboration with customersExpand PET and PC alloy grade utilizing post consumer recycling

Example of open recyclingExample of a process chart of closed (circulation-type) recycling

ABS resin TOYOLACTM Environmentally friendly (recycled) grade

Post consumer recycling

Collected water bottles Collected Discs

Crushed, washed DiscsCrushed, washed bottles


0

1,000

2,000

3,000

2000 2014 2015 2016 2017 2018 2020

Overseas affiliatesJapanese affiliatesToray

2,624

695 663 752 873 886 787

Atm

osph

eric

emiss

ion

050

100150200250300

2000 2001 2002 2014 2015 2016 2017 2018 2020

ﾒﾀｸﾘﾙ酸ﾒﾁﾙ(MMA)

ｽﾁﾚﾝ(SM)

ｱｸﾘﾛﾆﾄﾘﾙ(AN)

Atm

osph

eric

emiss

ion

Unreacted monomer is emitted to the atmosphere at Chiba plant so the company has conducted continuous countermeasuresAchieved reduction by 90% compared with the FY 2000, additional countermeasures are planned

Toray Group as a whole is promoting initiatives for the reduction by 70% compared with the baseline year FY 2000

■Toray Group Emissions of PRTR Law-Specified Substances■

■Emissions of PRTR Law-Specified Substances at Chiba plant (ABS production)■Measures for the 1st periodIntroduced 2-story thermal storage and combustion furnace Measures for the 7th period

Introduced Silica gel adsorption equipment Measures for the 8th period

Introduced 3-story thermal storage and combustion furnace

Target

246

80 6234 37 23 26 19

9. Contribution to a Sustainable Society ③

16

Baselineyear

Baselineyear

Plan

Reduction of emissions of PRTR chemical substances

methyl methacrylate (MMA)styrene (SM)acrylonitrile (AN)

26

III. Overview of Chemicals Business and Future Strategies


III. Overview of Chemicals Business and Future Strategies (Contents)

1. Major Products of the Chemicals Business at Toray Group

2. Expected changes in the Business Environment

3. Fine Particles of High-performance Resins for 3D Printers

4. Expansion of Agriculture-related Business and Developmentof High Value-added Products

5. Environment-related Business

6. Veterinary Medicines Business


1. Major products in the Chemicals Businessat Toray Group

Nylon, polyester raw materials Caprolactam・ Terephthalic acid

NZ products

Fine particles of high-functional resins for 3D printers

Veterinary medicines for dogs and cats

RAPROSTM INTERCATTM

Pharmaceutical and agrochemical raw materials

TORAYMILLTM

Basic chemicals business consisting of raw materials for synthetic fibers and plastics, fine chemicals business and aromatic fine chemicals business consisting of pharmaceutical and agrochemical raw materials and industrial materials

Basic chemicals business

Fine chemicals business

Solvents and cleaning agents DMSO

Toray Fine Chemicals products

Sealants THIOKOL LPTM

Soda Aromatic products

Chiral compounds

Toray products

Flavors, fragrancesAromatic fine chemicals business


2. Expected Changes in the Business Environment(1) Changes in monozukuri (manufacturing) due to the digital revolution

(2) Population growth issues

(4) Improving quality of life (QOL) (partnerships with companion animals)

Increase in consumption of food crops

Economic development in developing countries

Expansion of agriculture-related business (agrochemicals and fertilizers)Increase in consumption

of fodder crops

World population growth

(3) Realization of an environmental and recycling-oriented society

In China and developing countries, number of cats and dogs owned increasing reflecting higher incomes

Expansion of molding materials with the expansion of the 3D printer market

Expanding safe products

Pursuit of energy conservation Multi-layered glass

Dealing with environmentally regulated chemical substances

THIOKOL LPTM

DMSO

High-mix low-volume production, Complex modeling

Improving veterinary care for longer life ofdogs and cats Expansion of the

veterinary medicines business

Life with companion animals


Impellers (GF reinforced PPS)

<Characteristics> Uniform powdersize distribution（D50=50μm） Duct (GF reinforced PPS)

<Potential applications>Good powder flow

Polymer powder with potential for practical use which has high-flow and polymer properties most suitable for powder bed fusion (PBF method), developed using proprietary polymer design technology

3. Fine Particles of High-performance Resins for3D Printers

TORAYMILLTM PPS

Spherical polyamide 6 powder (under development) Surface smoothness of

3D printed parts

<Characteristics>

With spherical particulation technology, Toray is developing high-flow spherical polyamide power which realizes both surface smoothness and high-strength of 3D printed parts.

Spherical polyamide 6 powder

Frequency(%) Total(%)

Size(μm)


As the world's population is expected to grow and demand for agricultural products increases, we will solve the problem of “hunger”, which is one of the items in the Sustainable Development Goals (SDGs), by supporting agricultural development through our agrochemical raw materials business

• By applying technology developed for PX production which is “xylene isomerization and PX adsorption separation using a zeolite catalyst” technology, to fine chemical products, succeeded in the stable production of m-Dichlorobenzene, 2,6-Dichlorotoluene and other products

• Main product m-Dichlorobenzene is sold as a raw material for agrochemicals to agrochemical manufacturers around the world

<About NZ (New Zeolite) products>

<Contribution to society>

<Toray’s strength in its main product “m-Dichlorobenzene”>1)Adopted a manufacturing method that is superior to other companies in terms of environment,

safety and cost2) The raw material is a by-product of PPS raw material which is low cost and easy to obtain3) No. 1 global market share business

4. Expansion of Agriculture-related Business andDevelopment of High Value-added Products ①


Production of granular ammonium sulfate/compound fertilizer with fine ammonium sulfate, a lactam by-product, with compaction technology

Production flow of granular ammonium sulfate/ compound fertilizer

Raw material(fine ammonium sulfate)particle diameter of2 mm or less

Compression and granulation machine

Compressed and granulatedin the recesses of the roll surface

Burrs of the particles are removed by the rotation of the shape adjusting machine

Product in process(granular product)

Shape adjusting machine

Compaction technology

Product (granularammonium sulfate)particle diameter of2 - 4 mm

By-product of caprolactamLactam : Ammonium sulfate = 1：1.4A factor of three major factors(nitrogen, phosphorus, potassium)

What is ammonium sulfate? Fine ammonium sulfate

Granularammonium sulfate

Compound fertilizer

Adding high-value

Applicable to spraying by helicopter or drone at large scale farmers

4. Expansion of Agriculture-related Business andDevelopment of High Value-added Products ②


Removers and cleaners (for electronic materials, plants)Organic synthetic solvents, reagents(for pharmaceuticals, agrichemicals) Other applications (polymerized spinning solvent)

5. Environment-related Business

Toray Fine Chemicals Co. is the onlyDMSO manufacturer in JapanBusiness development with 2 bases-production in Japan and China

Other solvents are restricted under REACH due to its toxicological concern

Increased demand for DMSO as analternative due to its safety

Sealant (civil engineering, insulating glass）Dental molding, adhesivePrinting blanket

Toray Fine Chemicals Co. is the only polysulfide polymer manufacturer in JapanLow moisture permeability and well-balanced against flexibility and strength

Widely used in Europe for insulating glass with high heat resistance

Great contribution to energy-saving

Structure of insulating glass

THIOKOL LPTM

High heat resistance effect

DMSO Business THIOKOL LPTM Business


6. Veterinary Medicines Business

The world's first recombinant feline interferon preparation produced with silkworm

■Business EnvironmentThe number of dogs and cats in the household in developed countries remains flat. In China, the number of dogs and cats in the household is increasing rapidly, while incidence rates of virus diseases are high due to low vaccination ratesCardiovascular diseases are increasing as dogs and cats live longer

The world's first veterinary medicine approved for the “suppression of declines in renal functions”

■Business StrategiesEarly approval in Europe and USConsidering the additional indications for canine diseases

■Business StrategiesEarly approval in ChinaBuilding a production system to expand sales in China

INTERCAT TM RAPROSTM


Revenue Targets in “AP-G 2022”

320.0

410.0

0

100

200

300

400

500

Revenue of Resins & Chemicals BusinessBillion yen (note) include transactions within the Group

+28％

FY 2019Actual

(IFRS estimation)

FY 2022Target(IFRS)


Descriptions of predicted business results, projections, and business plans contained in this material are based on predictive forecasts of the future business environment made at the present time.

The material in this presentation is not a guarantee of the Company’s future business performance.

resins & chemicals business - toray industries, inc

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