Toray to Transfer Stake in Soda Aromatic to Samyang

Toray Corporation (Tokyo) has decided to sell its equity stake in Soda Aromatic Co., Ltd. The shares will be transferred to Japan Samyang Co., Ltd., a subsidiary of South Korea’s Samyang Group. Soda Aromatic, a company engaged in the production and sale of flavors, fragrances, and related products, is currently owned 66% by Toray and 34% by Mitsui & Co., Ltd.

The enterprise value of the transaction is JPY 41 billion. The final transfer price will be determined at closing and adjusted based on Soda Aromatic’s net interest-bearing debt, working capital, and other items.

Toray and Mitsui & Co. have agreed to transfer all shares of Soda Aromatic to Japan Samyang Co., Ltd. under a share transfer agreement. This transaction is part of Toray’s business portfolio restructuring and is expected to be completed in the first half of the fiscal year ending March 2027, subject to regulatory approvals and customary closing conditions.