TORAY INDUSTRIES,INC. [3402.T]
TOKYO, May 29 (Pulse News Wire) – Toray Industries,inc. (3402.T) decided today to sell its entire stake in Zota Aromatics Co., Ltd.
To a subsidiary of South Korea's Samyang Corporation. The transaction involves transferring 198 shares held by Toray and 102 shares held by Mitsui & Co., Ltd. The deal, valued at approximately ¥41.00 billion (adjusted based on final valuation upon completion), was signed. The sale is part of Toray’s strategy to optimize its portfolio and enhance capital efficiency under its mid-term management challenge “IGNITION 2028.” Completion of the sale is expected during the first half of fiscal 2027, subject to regulatory approvals. Zota Aromatics, established in 1915, specializes in manufacturing and selling various aromas and aroma-related products.
As of March 2026, the company had a capital of ¥1.490 billion and employed 509 employees (consolidated) and 345 employees (standalone). Toray owned 66% and Mitsui & Co. owned 34% of Zota Aromatics' shares prior to the sale. Regarding employee impact, Toray emphasized maintaining employment conditions for Zota Aromatics staff through discussions with the acquiring party. The company anticipates recognizing a post-tax gain of approximately ¥8 billion related to the sale in its fiscal year ending March 2027, which has been included in previously disclosed forecasts published on May 13, 2026.
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