Rengo Co., Ltd. (Head Office: Kita-ku, Osaka; Chairman, President & CEO: Kiyoshi Otsubo) announces that it has acquired a 20% stake in Sun･Tox Co., Ltd. (Head Office: Minato-ku, Tokyo; President Yoshitaka Iijima) by subscribing for an allocation of new shares to a third party by Sun･Tox.

Sun･Tox is a plastic film manufacturer under the Tokuyama Corporation (Head Office: Chiyoda-ku, Tokyo; President Hiroshi Yokota) group of companies and has been a long-time major film supplier of the Rengo Group.

Through this equity participation, Rengo aims to support the enhancement and development of Sun･Tox's plastic film business as a group. Specifically, through improving Sun･Tox's distribution network, Rengo Group will shorten the lead time for procuring raw materials used in flexible packaging, allowing flexible packaging products to be supplied to clients in a shorter time and more stably. In addition, from a business continuity point of view, enhancing the framework for a stable procurement of raw materials will also contribute to improving customer satisfaction.

“General Packaging Industry (GPI)” Rengo promotes the comprehensive enhancement of packaging, and will continue to work to further expand flexible packaging as an important core field.