News Releases / 2023
-
July 14, 2023
Rengo Reorganizes Water-Based Flexo Printing Business of Its Subsidiaries
Rengo Co., Ltd. announces that its consolidated subsidiary Howa Sangyo Co., Ltd. will take over the water-based flexo printing business of Kinyosha Printing Co., Ltd. and Marufuku Co., Ltd., both of which are also subsidiaries, on August 1, 2023.
Howa Sangyo engages in manufacturing and sales of flexible packaging products that are closely related to daily life such as food and daily necessities, and develops a product line using gravure printing. On the other hand, water-based flexo printing, which Kinyosha and Marufuku have been engaged in, is an environmentally friendly printing technology with low emissions of CO2 and volatile organic compounds (VOCs) and can print clearly on paper, nonwoven fabrics, and other materials in addition to plastic film.
By consolidating the water-based flexo printing business into Howa Sangyo, which has a wealth of know-how regarding the manufacturing and sales of flexible packaging products, the Rengo Group will accelerate the development of environmentally friendly products and strengthen its structure to respond to diversifying user needs. As a result of this business transfer, Rengo will acquire the shares of Kinyosha held by Howa Sangyo.
Through this reorganization, Kinyosha will concentrate its management resources on the media package business, while Marufuku will concentrate its management resources on the folding carton business. The two companies will collaborate with the related business locations of the Rengo Group and strive to achieve further business expansion.Overview of each company pre-reorganization
Overview of Howa Sangyo Co., Ltd.
Location 4-16-12, Narashino, Funabashi-shi, Chiba Prefecture Representative President and Chief Executive Officer Yoshitaka Ozawa Capital 500 million yen Shareholder Rengo Co., Ltd. 100% Main business Manufacturing and sales of flexible packaging products Net sales Approx. 76.3 billion yen (fiscal year ended March 2023) Number of employees 1,247
Location 2-8-4 Unoki, Ota-ku, Tokyo Representative President Shigeru Kurimoto Capital 100 million yen Major shareholders Rengo Co., Ltd. 50.1%
Howa Sangyo Co., Ltd. 20.0%Main business Manufacturing and sales of media packages for audio/visual/game software, etc., flexible packaging products using water-based flexo printing, and construction materials Net sales Approx. 6.8 billion yen (fiscal year ended March 2023) Number of employees 234
Location 1137 Urushijima-machi, Hakusan-shi, Ishikawa Prefecture Representative Representative Director & President Teruo Fukushima Capital 42 million yen Shareholder Rengo Co., Ltd. 100% Main business Manufacturing and sales of folding carton products using offset printing, flexible packaging products using water-based flexo printing, and plastic molding products Net sales Approx. 1.4 billion yen (fiscal year ended March 2023 (six months)) Number of employees 105