Fine Materials for the Future

CSR Report

2 0 16

CONTENTS
TODA KOGYO Group s Management Philosophy and CSR Policy ……………………………… 3
TODA KOGYO Group s Business Contents and History …………………………………………… 4
Messages from the President and the Chairman ……………………………………………………… 6
Special Report ① Report on Exhibit at the 25th New Environmental Exposition 2016 ……… 7
Special Report ② Completion of the Carbon Nanotube (CNT) Plant …………………………… 8
Special Report ③ Opening of the Bengala Museum ………………………………………………… 10
For Our Investors …………………………………………………………………………………………… 12
1) Corporate Governance2) Priority Markets
3) TODA KOGYO s Products and Final Applications
4) Business Overview (Fiscal 2015)5) IR Explanation Meetings6) Policies in the Medium-Term Management Plan
For Our Customers and Business Partners …………………………………………………………… 16
1) In Order to Fulﬁll the Product Responsibility2) Situation regarding Responses to Customer Inquiries
3) For Protection of Human Rights
For Society …………………………………………………………………………………………………… 19
1) Situation regarding Introduction of Management Systems
2) Measures to Address Global Warming3) Certiﬁcate of Environmental Rating
4) Green Procurement Activities
5) BCM and BCP
6) Involvement with Society and Community
7) Initiatives for Biodiversity8) Compliance
For Employees……………………………………………………………………………………………… 26
1) Better Working Environment2) Health and Safety Activities
3) Club Activities
4) Training Systems
Organization Chart ………………………………………………………………………………………… 30
Oﬃces ………………………………………………………………………………………………………… 31

ー2ーBusiness Contents of TODA KOGYO GroupTODA KOGYO Group expands business based on nanotechnologies beginning with the wet
synthesis of iron oxides. Depending on types of bonding of elements primarily comprising iron andoxygen, iron oxides show diﬀerences in color, hardness, strength, magnetism and physical orchemical properties.
TODA s wet synthetic technology is unique in that we can control the properties of iron oxides
and other kind of particles, and can use our full command of the materials to produce a rich variety
of materials with the desired functions and properties.
Our accumulation of specialized knowledge, technologies and know-how based on iron oxides
enables us to approach customers issues from a new viewpoint and to discover solutions from theperspective of materials.
In recent years, we have utilized our extensive knowledge of materials to develop andmanufacture electronic parts such as metal-compatible IC tags and RFID antenna-sheets, andthereby we meet the advanced demands of customers.
TODA KOGYO Group will continue to provide solutions which support information, environment
and energy via materials.

History of TODA KOGYO
1907
Plant relocated to Asakita-ku,
Hiroshima City (Hiroshima Plant)

1933
TODA KOGYO CORP.
established in
Yokogawa-Shinmachi in
Nishi-ku, Hiroshima City

1953
Tokyo Sales Oﬃce
and Osaka Sales
Oﬃce established

1959
Onoda Plant built in Sanyo-Onoda City,
Yamaguchi Prefecture.

1953
In the process of1936
manufacturing ironHead Oﬃce and plantoxides by calcination
relocated toof iron sulfate,
Funairi-Minami insulfurous acid gas was
Naka-ku, Hiroshima City generated and became aserious problem.

Founded
in
1823

1910

1920

1930

1823 Bengala manufacturing started in Ibara City,
Okayama Prefecture
Beginning from the industrial manufacture of
Bengala, the oldest pigment known to mankind

1940

1950

1971
Head Oﬃce relocated to
Yokogawa-Shinmachi in Nishi-ku,
Hiroshima City
1975
Funairi Plant transformed into a
dedicated research anddevelopment facility

1965
Overcoming the pollution problems using the developmentof the wet synthetic method in which iron oxides aresynthesized from aqueous solution by a chemical reaction

1960

1953
Joint research started with Kyoto University.
Bengala manufacturing is transformed from a
traditional skill to a technology .

1970
1969
Equipment for production of magnetic powdermaterials for audiotapes and videotapes added to
Onoda Plant
1973
Equipment for production ofcoloring pigment using wet
synthetic method added to
Onoda Plant

1953
Production plant of ferrite materials
newly added to Hiroshima Plant.

Coating material for building timber
Primer for dark blue dyeing
Coloring for lacquerwareand bangasa (coarse oilpaper umbrellas)
Ceramics (akae glaze), etc.

PowderUse of iron sulfate andiron chloride, which
are derived as byproducts
from iron and steel
product manufacturing
processes, as raw
materials

World s Number 1
share for magnetic
powder used inaudiotapes andvideotapes!
Contributing to reduction of industrial wastes
and eﬀective utilization of resources

Pelletsー4ー

An industry ﬁrst! Development of thewet synthetic method for iron oxides

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1983
Shares listed on theﬁrst section of Tokyo
Stock Exchange
1983
Creative R&D Center
newly established in
Funairi-Minami in
Naka-ku, Hiroshima City

1991
Otake Creative
R&D Centerestablished in
Otake Plant

Toner materials

2000
Head Oﬃce relocated to
Funairi-Minami in Naka-ku,
Hiroshima City

1988
1989
Dedicated facility to
Facility for manufacturing magnetic
produce coloring materials powder for metal tape added tofor electronic printing
Onoda Plant
added to Onoda Plant
Application of the wet
Computersynthetic method todigital recording
materials other thantapeiron oxides

1994
Development of a combustion
catalyst which suppress generationof dioxins

Magnetic tickets andmagnetic cards

Examples of use of a dioxin-suppressing
catalyst (garbage bags, cushioning material)

Magnets

2014
Head Oﬃce relocated to Hiroshima City
2015
BASF TODA Battery Materials LLC
established

2000
1999
Facilities for manufacturing
Hydrotalcite newly added to
Onoda Plant

2010
2003
Facilities for producing lithium
ion rechargeable battery
cathode materials
newly added to Onoda Plant

1996
Facilities for manufacturing color
toner carrier materials newly
added to Otake Plant

Color toner carrier

ー5ー

2004
Facilities for manufacturing
Barium titanium trioxide added to
Onoda Plant

Example of use of Barium titanium
trioxideHydrotalcite
1984
Production of ferrite materials started
at Otake Plant

2011
Approved for DBJ s Environmental
Ratings from the Development
Bank of Japan.

2003
Head Oﬃce moved to
Otake City

1997
Toda Pigment Corp.
established

1990

2008
All shares of Tokyo Shikizai Industry
Co., Ltd. acquired

2001
Toda Material Inc.
established1994
Toda Kogyo EuropeGmbH established

1984
Otake Plant newly
established in Otake City,
Hiroshima Prefecture

1980

Start ofoverseas
activities!

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Equipment for production ofantenna sheets for IC tags
added to Otake Plant

Metal-compatible IC tags

2011
Equipment for production of
NFC ferrite sheets for use insmartphones added to Otake Plant

Ferrite sheet

Top Messages

Shigeru Takaragi

Tadashi Kubota

President and Representative Director

Chairman and Representative Director

TODA KOGYO is a chemical material
manufacturer founded nearly 200 years ago at theend of the Edo Period as a producer of the red ironoxide pigment Bengara which is known by
painting porcelain and Bengala lattice . As theleading manufacturer of iron oxides, we not only
produce a wide variety of iron oxides but also
supply materials and parts which are made bymeans of synthetic technologies for ﬁne particles, toleading corporations and customers all over theworld.
We recognize that the continuous supply of our
products that respond to customers needs, is an
important duty. We also have a social responsibility
with respect to our customers, employees,
shareholders and the local community, and we arecommitted to fulﬁlling this responsibility throughfurther development of our companies.
Under the TS2 (Toda Step Two) medium-term
management plan that was newly started in 2016,
TODA KOGYO Group aims to establish an evenﬁrmer management base and adopt a corporate
constitution that generates high proﬁts. We also aim
to widely contribute to society through thedevelopment and provision of new materials andsolutions brimming with originality. And thereby,
we aim to grow as a valuable presence for all our
stakeholders.
This report describes daily activities of TODA
KOGYO Group for the purpose of fulﬁlling its social
responsibility. I hope these pages help deepen yourunderstanding our eﬀorts.

Three and a half years have passed since I
was appointed as a representative director of
TODA KOGYO. In this time, our employees
have actively participated in the strengthening of
our corporate constitution in accordance with
my idea of bottom-up .
Our theme is continuity : I believe that this
above all is the company s mission and thestarting point for managers. TODA KOGYO sorigins can be traced back to Nishi-ebara (thecurrent Ibara city) in Okayama Prefecture.
Having started as a producer of Bengala 193
years ago, the company became a corporation in
Hiroshima city 83 years ago. Working together
with our employees, we are committed tocooperate with all our stakeholders and fulﬁlling
our responsibilities to ensure that TODA
KOGYO Group reaches its 200th and 250th
anniversaries.
We stand in our positions today holding
missions and objectives. I believe that thedeﬁnition of taking responsibility is toaccomplish one s mission and objectives
within the promised deadline . I consider mymission to be reconstruction of our company
and establishment of the foundation for thecompany s continuation . And I work every
day while keeping in mind my belief of Fair,
Honest and Hard-working . I would like toexplain our eﬀorts content for the continuationof our company.

ー6ーSpecial Report ①
Report on Exhibit at the 25th New Environmental Exposition 2016
TODA KOGYO put on an exhibit at the New Environmental Exposition 2016, which was held at Tokyo
Big Sight between May 24-27, 2016. Through participating in this exposition, which is a chance for industry
oﬃcials to gather in the same place, we aimed at creating new business opportunities by means ofadvertising TODA KOGYO s environmental products and ﬁnding out new customer needs.
We exhibited and gave explanations tovisitors on our various environmental
functional materials and iron oxide powders,such as RNIP; rapid remediation material forsoil contamination and groundwater, AMF;
processing agent for wastewater containing
selenium and arsenic, TIC; combustion
catalyst and so on. We also introduced
garbage bags and various catalyst materials
that are made with functional iron oxides
kneaded-in.
This exposition, which is the largest
environmental business exposition in Asia,
attracted approximately 160,000 visitors
during four days. Numerous industry
oﬃcials visited the TODA KOGYO bootheach day, and we exchanged business cards
with around 300 persons. Visitors talked
about numerous issues including the
puriﬁcation of contaminated soil andtreatment of water, reduction of incineration
costs and so on, and they showed theirinterests in our products we introduced as
possible solutions. We intend to ﬁrmly
follow up the environmental business
exposition and translate it into new businessfrom now on. Major issues in recent news
have focused on preventing the outﬂow of heavy metals of natural origin in soil and groundwater which is
generated by civil engineering works related to the Olympic Games and constructions of railway tunnels,
and also focused on the puriﬁcation of
hazardous pollution on sites of former
industrial plants and so on. TODA KOGYO
intends to contribute to society throughapplying its environmental functional
materials to such problems.

ー7ーSpecial Report ②
Completion of the Carbon Nanotube (CNT) Plant
Following the completion of work on the Carbon Nanotube (CNT) Plant being constructed in the Kaitabase of Hiroshima Gas Co., Ltd., the completion ceremony was held on April 15, 2016. The plant has
production capacity of approximately 500 kg per month.
<Shigeru Takaragi, President of TODA KOGYO (left) and Hiroyuki Yamamoto,Managing Director of Hiroshima Gas (right)>

The direct reforming method makes it possible to synthesize hydrogen and CNT having various featuresusing hydrocarbon gases which includes carbon source, such as natural gas, etc. Hydrogen is viewed as apotential clean energy. Hiroshima Gas Technology Research Institute is promoting the recovery and reﬁningof generated hydrogen and development of its applications.
Direct reforming method

CH₄ ⇒ C (CNT) + 2H₂ (hydrogen)▶What is CNT?
CNT consists of three words: Carbon, Nano (= nanometer (nm)) and Tube. As the name suggests, thissubstance has a tubular structure, formed with a network of carbon atoms. Such tubes are extremely thin,measuring only nanometers in diameter or 1/50,000 the thickness of a human hair.

CNTs have various outstanding properties as follows.
-They are light, have high tensile strength and ﬂexibility.
-They have corrosion resistance and heat resistance.
-They have good heat conductivity.
-They are good conductors of high current density.
-They are semiconductors with high mobility.
-They have large speciﬁc surface area.
-They show high electric ﬁeld emission characteristics.

▶CNT Market
Despite their various characteristics, the market for CNTs has been slow to develop due to the diﬃculty indispersion. TODA KOGYO has succeeded in developing and making it possible to mass produce CNTs
which can easily disperse.
Since it has become possible to achieve a high dispersion property and develop a highly concentrated
dispersion, requests from users for samples have been increasing in recent years.

<CNT dispersion using
conventional CNT powder>

ー8ー<Highly concentrated CNT
dispersion developed by
TODA KOGYO>We aim to develop a wide range of markets focusing on applications as electron-conductive materials andconductivity-auxiliary agent for lithium ion rechargeable batteries (LIB), capacitors and so on, by taking
advantages of the electric conductivity, heat conductivity and reinforcing property of CNT.

▶The control of CNT-synthesis catalyst based on wet synthetic technologies accumulated overmany years, and a proposal of easy dispersion characteristics by the surface treatment of CNT.
CNT on the surface of Electricalconductive rubber-sheet

Fibrous CNT linking active materials

1μm

Easily dispersible CNT powder

Highly concentrated dispersion

5μm

5〜10wt％

LIB conductive additives
Electrical conductivity /ﬁbrousTranslucent conductive ﬁlm
Electrical conductivity

Potential for numerous applications based on various characteristics

EDLC activator
Electrical conductivity

Flexible strength
reinforcing additive<Project meeting>ー9ーElectrical conductive rubber/Planer heating element"Extremely high conductivity"

Heat-resistant black pigment
Heat resistant colored in jet blackSpecial Report ③
Opening of the Bengala Museum

ー 10 ーOn November 30, 2015, to coincide with the anniversary of the founding of TODA KOGYO, the Bengala
Museum, which introduces the modern industry of Bengala to the public, was opened on site of Toda
Pigment Corp. in Okayama Prefecture.
This building was originally constructed in 1958 as a materials storage. At that time, this plant was still
manufacturing Bengala by the dry manufacturing method as a key plant of TODA KOGYO. It was
subsequently used as a power receiving room following almost 60 years. And the building was renovated in
its original form.
The building was constructed in the midst of Japan s high-level economic growth in the year when Tokyo
Tower was completed and the engagement of Crown Prince Akihito and Crown Princess Michiko wasannounced. Rather than demolishing such a historic building that has been watching the plant since this era,
we decided to renovate it as a museum with a view to handing down in some small way to future
generations the industry and history of Bengala, which is a part of Japanese culture.
Toward its 200th anniversary, TODA KOGYO Group and all its employees under the current president arepromoting social initiatives aimed at realizing continuous growth and creating a bright future under theslogan of Fine Materials for the Future.

ー 11 ーFor Our Investors
１）Corporate GovernanceFor the purpose of maintaining and promoting fairness, soundness, transparency and eﬃciency in its
corporate management aﬀairs, TODA KOGYO has established principles of corporate governance and the
management organization illustrated below.

Principles of Corporate Governance
Recognizing that the fulﬁllment of our social responsibility is an important role as better citizens andcorporate citizens, TODA KOGYO Group, are committed to carry out management on an ongoingbasis which is based on management philosophy and management principles, for the purpose ofcontinued sound development into the future. We will adhere to the relevant laws and ordinances andcompany regulations, on the base of the spirit of compliance. Top managers of our Group themselves
will lead by examples of these principles and polices, then will enforce within the company,
disseminating to group corporations and business partners. Furthermore, we will refuse to haverelations with antisocial forces and groups. Therefore, we will strengthen the Board of Directors
function for monitoring execution as the representative of shareholders and promote transparent
management. We also aim to realize agile corporate governance which can rapidly respond toenvironmental changes. Moreover, we have established and endeavor to realize the following
principles aimed at fairly protecting the rights and proﬁts of shareholders and other stakeholders in themarket based on appropriate information disclosure.
① We endeavor to protect the rights of shareholders.
② We endeavor to ensure equality of shareholders.
③ We endeavor to build smooth relations with stakeholders other than shareholders.
④ We endeavor to ensure information disclosure and transparency.
⑤ We endeavor to enhance supervision of management and ensure accountability with respect toshareholders.

<Promotion Setup for Corporate Governance>
General Meeting of Shareholders(The supreme decision making body)Appointments and dismissals

Compliance
Committee

Board of Directors
Appointments,
dismissals and supervision

Management
supervisionCorporate
Lawyers

Appointments and dismissals
Monitoring
and audit

Board ofAuditors

Monitoring
and audit

Instructions

Internal
Representative
Audit Oﬃce Reporting
Directors
Work audit

Participation

Management Conference
Control and monitoring

Work Departments

ー 12 ーMonitoring
and audit

Monitoring
and audit

Appointments
anddismissals

Accounting
Auditors
Accounting audit

2）Priority Markets
Home appliances andOA equipment- Materials for copying machines/printers- Parts for motors- Parts for smartphones and wearable products- Painting material

Environment andlifestyle- Environmental puriﬁcationmaterials- Lead-free materials- Catalysts for chemicals- Energy saving materials- Painting material

Automobiles

Energy- Rechargeable battery materials- Motor materials- Brake materials- Painting material

New businesses- Carbon materials- Next generation
magnet materials- Next generation
nano materials

3）TODA KOGYO s Products and Final Applications
Automobiles

Copying machines/Printers- Battery materials for electric vehicles- Magnet materials for motors in cooling pumps
and transparent iron oxide- Electronic components (inductors and capacitors)- Brake materials, vibration prooﬁng and damping
materials- Motor sensors in safety devices- Toner materials and carrier materials- Magnet materials- Sustaining a high market share
as a specialist maker of iron oxides

Home appliances and OA equipment- Deployment of cathode material for
lithium ion batteries- Business deployment of CNTs thatfeature its easy dispersion- Components for mobile phones and smartphones- Magnets for consumer electronics motors- Components for wearable products- Strengthening of sales expansion to the
ASEAN region corresponding to needsof local production for local consumption

Painting material- Painting material for automobiles and oﬃce equipment- Painting material for architectural uses
- Painting material for construction materials- Painting material for anti-rust for ship bottoms-Strengthening of sales throughexpansion of the domestic andoverseas production setups

Environment and lifestyle- Materials for poly-vinyl chloride and road
- Catalysts for reduction of dioxin generation- Remediation agent for contaminated soil

- Strengthening of development, production
and sale of lead-free products

ー 13 ーFor Our Investors4）Business Overview (Fiscal 2015)
Japan s economy this ﬁscal year has been continuing to show a gradual recovery trend such as improvementof corporate earnings and recovery of plant and equipment investment, based on the government s economic
policies and the money policies of Bank of Japan. On the other hand, with the slowdown in overseas
economies in China and elsewhere, and with the rapid appreciation of the yen in contrast to the progress ofstock price depreciation at the start of the year, the economic outlook is still uncertain.
Under these circumstances, depending on the inﬂuence of transferring the domestic business of the lithium
ion battery cathode material to an aﬃliated company accounted for by the equity method, sales of TODA
KOGYO Group fell to 28,510 million JPY (16.3% down on the previous year comparison). However, theoperating proﬁt margin, which TODA KOGYO regards as its top priority management indicator, was improved
to 3.7% (1.0% higher than the previous year) thanks to cost cutting eﬀorts promoted since last year. And as aresult, operating proﬁt was 1,051 million JPY (up 15.2% on the previous year).
The group also recorded an investment loss based on the equity method of 1,942 million JPY, an exchange
loss of 607 million JPY, etc., and consequently the ordinary loss amounted to 1,440 million JPY (compared tothe ordinary income of 963 million JPY in the previous year). The loss arising from step acquisition in line withtransition from non-consolidated to a consolidated subsidiaries under the equity method was 2,325 million JPY,
the impairment loss on ﬁxed assets in the electronic materials business domain was 1,879 million JPY, and thecorporation tax adjustment was 1,328 million JPY, resulting in a current net loss attributable to parent
company shareholders of 6,865 million JPY (In the previous term, the current net proﬁt attributable to parent
company shareholders was 559 million JPY).
Concerning prospects for the next ﬁscal year, under still uncertain market conditions, TODA KOGYO Groupwill continue to push transition towards a highly-proﬁtable constitution by means of reducing costs andimproving the equity in net income of aﬃliates. It also intends to expand consolidated performance by meansof developing new overseas markets for magnet materials, expanding the ferrite sheet business for
smartphones and wearable devices, rebuilding the battery business and so on.

Operating proﬁt

Sales(100 million yen)400

2nd quarter (cumulative)

2nd quarter (cumulative)

316

25.3

340
285

300

20 17.6

201
168

157

9.1

10

169

6.4

144

10.5
5.7

0

100

△1.0
0

For the year

30

372
316

200

(100 million yen)

For the year

2011

2012

2013

2014

△10

FY 2015

△1.7

△6.5
2011

2012

△8.0
2013

2014 FY 2015

Net proﬁt(100 million yen)10

2nd quarter (cumulative)

6.1
3.5

3.2 2.5

0

For the year

5.5
0.7

2.9

△6.7

△10

△17.3

△20

△68.6
△70

2011

2012

2013

2014

FY 20155）IR Explanation Meetings
TODA KOGYO holds IR explanation meetings (settlement report meetings) for investors, analysts,
economic journalists, etc. twice per year.

ー 14 ー6）Policies in the Medium-Term Management Plan

「TSO」
（ Toda Step One ）「TS2」（ Toda Step Two ）TermFiscal 2016-2018

Management Goals①Sales target (annual rate up by 10%)
②Operating proﬁt margin of 8%③Execution of the reconstruction plan for businessaﬃliates④Selected concentration on developing and growing
businesses⑤Strengthening of organization

Secure growth with proﬁts
Strengthening of organization

Toda Step One

Toda Step Two（During FY 2013-FY 2015）（FY 2016-2018）

Consolidation of the Foundations

Further Growth●Transition to an operating proﬁt
making concern●Improvement of the equity method balance●Review of unproﬁtable businesses andnormalization of assets- Maintenance and expansion of the iron oxides
business- Selection of development themes- Cutting of costs and reduction of expenses- Rebuilding of the domestic cathodematerial business- Reconstructing or withdrawal of loss making
companies- Withdrawal of unproﬁtable brands- Reduction of interest-bearing debt
- Countermeasures for exchange risk
- Organizational restructuring

ー 15 ー●Expansion of business●Transition to a high proﬁt constitution●Promotion of improvement in businesscompanies●Strengthening of organization(sound organization)- Strengthening of deployment of magnet
materials to overseas markets- Expansion of the ferrite sheet business- Further growth of business companies- Compilation and execution ofreconstruction plans- Initiatives for increasing corporate value- Reconstruction of the cathode material
business in North America- Pursuit of optimum organization- BCP countermeasures

For Our Customers and Business partners
１）In Order to Fulﬁll the Product Responsibility
TODA KOGYO Group promotes the quality assurance activities shown below based on the quality policy:
To develop continuous improvement activities and provide qualities which obtain the customers trust andsatisfaction. In order to separate these quality assurance activities from marketing, development andmanufacturing lines and thus increase their eﬀectiveness, the Quality Assurance Department in Head Oﬃce
was placed under the direct control of the president in July 2016.
In addition to performing quality audits for the manufacturing departments of TODA KOGYO Group, theQuality Assurance Department identiﬁes causes of complaints from customers, plans and implements
measures to prevent recurrence of complaints, and performs horizontal deployment activities together withpeople on the production line.

Guidelines of Quality Assurance Activities
1. We perform quality audits for the purpose of conﬁrming compliance with requirements in the
ISO9001 series and improvement of the quality assurance systems.
2. We conﬁrm the status of compliance with laws, regulations and other requirements.
3. In order to improve the quality of products by TODA KOGYO Group, we promote comprehensive
quality improvement by means of analyzing quality, providing improvement guidance for related
departments and holding regular quality review meetings (quality assurance committees).

<Quality Assurance Structure>
Identiﬁcation of causes ofcomplaints, etc., planningand implementation of measures to prevent recurrenceof complaints, conﬁrmationof progress, and horizontal
deployment

Management Conference(TODA KOGYO)
Reporting

Supervision

Quality Assurance Committee (Quality Assurance Department)

Consultation

Onoda Plant

Qualityaudit

Reporting ofcorrections

Creative R&D Center

Technical support

Otake Plant

Toda Pigment Corp.

Tokyo Shikizai Industry
Co., Ltd.

Communication of complaints, etc.
Marketingー 16 ー

Other manufacturingaﬃliates

2）Situation regarding Responses to Customer Inquiries
We constantly receive inquiries from customers concerning products, CSR and so on. At TODA KOGYO
Group, we regard such inquiries as good opportunities to review ourselves and make it our goal to promptly
respond all inquiries. Concerning the issues that arise in such activities, we determine the corresponding
department and work on problem solving.

▶Quality Control
TODA KOGYO Group has introduced the latest measurement equipment in its eﬀort to supply outstanding
quality products together with safety and peace of mind to customers.
We are also totally committed to securing stable quality and developing new products that can respond to
our customer s request.

<Small group presentation meeting at the Otake Plant>▶Small Group Activities
With a view to fully drawing capabilities on the
production line at each plant, TODA KOGYO
aggressively conducts small group activities together
with subcontracting companies based on the slogan
No eﬃciency without safety; No trust without quality;
No growth without innovation (improvement). Such
activities help foster unity, awareness and knowledge
among employees on the production line, while
presentation meetings lead to the sharing of know-how
between workplaces.

ー 17 ー3）For Protection of Human Rights
TODA KOGYO Group advances initiatives for respecting human rights all over the supply chain from thepurchase of raw materials to the delivery of products to customers. From ﬁscal 2010, TODA KOGYO Group
clearly deﬁned respect for human rights in the CSR Code of Conduct, and monitors in suppliers as apriority item in the entire Group.

Respect for Human Rights, Employment and Labor ‒ from the CSR Code of Conduct ‒TODA KOGYO Group always respects fundamental human rights as a prerequisite for mutual
understanding. Moreover, TODA KOGYO Group does not discriminate by race, creed, sex, social
status, nationality, sickness or disability, etc.
(1)Elimination of all kinds of discrimination
Executives and employees must respect the fundamental human rights of individuals, and must not
do any discriminatory speech and action, violent acts, sexual harassment, power harassment or otherbehavior to ignore human rights.
(2)Protection of personal privacy
When executives and employees touch personal information inside and outside the company in thecourse of business activities, they must pay close attention and appropriately manage it to ensure that
individual privacy is not compromised.
(3)Elimination of unfair labor
Executives and employees must eliminate unfair labor. They must not employ children below theminimum working age determined by laws and regulations of each country and region. Executives andemployees must demand the same policy as in the TODA KOGYO Group from agents andsubcontracting companies.

ー 18 ーFor Society１）Situation regarding Introduction of Management Systems
TODA KOGYO Group has acquired certiﬁcation under the following management systems andimplements the PDCA*) cycle in its business activities.*) PDCA means plan, do, check and action.

ISO9001
ISO14001OHSAS18001

ISO9001
ISO14001

Onoda Plant
Otake Plant

ISO9001

Toda Pigment Corp.

TODA MAGNET (SHENZHEN)TODA Ferrite KOREA Co., Ltd.

CO., Ltd.
Otake Creative R&D Center:

TODA ISU CORPORATION
Toda Magnequench Magnetic Material (Tianjin) Co., Ltd.

Product Development Group

Toda Plastic Magnet Material (Zhejiang) Corp.

ISO14001

Zhejiang Toda DMEGC Magnetic Co., Ltd.
Toda United Industrial (Zhejiang) Co., Ltd.

Otake Creative R&D Center

Zhejiang United Pigment Co., Ltd.
Toda America Inc.
* Aﬃliated companies in which the shareholding is 50% or more are stated.

２）Measures to Address Global Warming
Data concerning energy consumption and greenhouse gases in TODA KOGYO Group are shown below.
We carry out daily eﬀorts to reduce energy consumption. Moreover, energy consumption is controlledcorresponding to ﬂuctuations in handled items and so on. TODA KOGYO Group will continue to promotefurther energy conservation activities.
The transition of energy consumption (converted to crude oil: kl)

The transition of energy consumption (GJ)

The transition of greenhouse gases (tCO2)
100,000

50,0001,400,000
40,00080,0001,200,000
1,000,000

60,00030,000800,000
20,00040,000600,000
400,000

20,00010,000200,000
0

0

2010

2011

2012

2013

2014

2015

0

2010

2011

2012

2013

2014

2015

2010

2011

2012

2013

2014

2015

* The target scope of the graphs is the statutory regular report on energy saving in TODA KOGYO CORP.

In January 2016, TODA KOGYO Group received a Silver ranking in the sustainability investigatedby Eco Vadis Inc. (France). Targeting suppliers in 150 business sectors in 110 countries Eco Vadis Inc.
assesses policies, measures and performance in the areas of environment, society (working
environment, human rights, etc.), fair business activities and supply chain. In this latest survey, TODA
KOGYO Group was ranked in the top 30% of companies overall. In addition, we endeavor to reducegreenhouse gases (GHG) through participation in the climate change program (CDP*).
* CDP (Carbon disclosure project) is an international not-for-proﬁt organization that provides the only global system
for measuring, disclosing, managing and sharing the important environmental information of corporations and cities.

ー 19 ーFor Society3）Certiﬁcate of Environmental Rating
In ﬁscal 2013, TODA KOGYO was certiﬁcated the Development
Bank of Japan s (DBJ s) Environmental Ratings, which support theenvironmental management of corporations, in recognition for its
initiatives to realize a sustainable society.

4）Green Procurement Activities and Conﬂict Minerals
TODA KOGYO Group has clearly prescribed Green procurement activities and Basic policy concerning
conﬂict minerals within its procurement policy. We carry out procurement activities in consideration ofenvironment and human rights with cooperation from its business partners.

Green procurement policy: Carry out procurement activities in consideration of protection of resourcesand environmental preservation

Basic policy concerning conﬂict minerals:
In the Democratic Republic of the Congo and neighboring countries, signiﬁcant violations of humanrights and environmental destruction by anti-government forces are occurring. These problems areserious concerns for the international community. It is said that some of the minerals (tin, tantalum,
tungsten, gold) that are produced in this region are exploited as a source of funding (so-called
conﬂict minerals ) for these forces.
In these circumstances, under the Dodd-Frank Wall Street Reform and Consumer Protection Act
established in the United States, it has been made compulsory for listed companies in the UnitedStates to disclose use of conﬂict minerals in their products and so on.
TODA KOGYO Group has no intention to assist such violations of human rights and environmental
destruction. We will continue to advance initiatives in cooperation with our customers, business
partners, industry organizations and so on.
TODA KOGYO Group asks its business partners to procure from smelters which comply with theConﬂict-Free Smelter Program* established by the Electronic Industry Citizenship Coalition (EICC)
CSR alliance / Global e-Sustainability Initiative (GeSI), or smelters which are recognized as having no
involvement with conﬂicts in traceability projects which track traces of reliable minerals from theirmining to processing and distribution.
* Conﬂict-Free Smelter Program: A program in which an independent third party certiﬁes that all theminerals which smelters process are originated from conﬂict-free sources.

ー 20 ー5） BCP (Business Continuity Plan)
The Japanese archipelago is faced with earthquakes and other natural
disasters. In addition, there is always a risk of ﬁre or terrorist attack and so
on causing immense damage to a company s business. When such
emergencies arise, it is important to minimize damage and endeavor tocontinue business or restore business early. It is also important to avoid
inconveniencies to customers and not to lose the trust of markets andshareholders.
In order to implement such actions promptly, TODA KOGYO hasformulated a BCP in preparation for emergencies. Even at normal times,
the company carries out emergency response training, holds discussions
with suppliers and customers, and steadily works on securing alternativemeans of production and so on, in accordance with the BCP.

Disaster Prevention Education and Training① Hiroshima Disaster Prevention Center② Training based on the safety conﬁrmation system
When a strong earthquake measuring an upper 5 on the seven-point Japanese scale occurs, a safety
conﬁrmation email is automatically sent to registered addresses. We endeavor to ensure eﬀectiveness in caseof disaster, by means of irregular training at normal times.
③ Rescue slider (emergency stair evacuation vehicle)④ Disaster prevention seminars
Scene from a seminar staged by Hiroshima Regional Meteorological Observatory of Japan Meteorological
Agency.

ー 21 ーFor Society▶The Merits of Formulating a BCP(from an in-company report)- Become a disaster-resistant corporation.
The BCP protects the safety of employees, core businesses and the trust ofcustomers. By means of formulating a BCP, the company can get the measures tosurvive disasters.
- Increase credibility of customers and other business partners
Corporations which formulate a BCP are seen as stable organizations and gain
greater trust from customers and other business partners. Some major corporations
require business partners to also formulate a BCP.
- Cooperation is deepened with employees and subcontracting companies, etc.
BCP signiﬁes working together with employees and subcontracting companies,
etc. By means of showing top managers attitude to protect their company,
employees sense of security is born and leads to strengthen the relationshipbetween subcontracting companies- It provides an opportunity to develop management strategies over the mediumand long-terms
Formulating a BCP is the planning of the management strategy itself, in that it
entails identifying the core businesses that need to be prioritized, identifying the
weaknesses in management resources and rebuilding relations with customers andsubcontracting companies, etc.
- It is possible to get loans with preferential interest rates
When a corporation that has a BCP implements disaster prevention measures, it isentitled to defray the costs by means of getting loans with preferential interest rates.
Government-based small to medium-sized enterprise (SME) ﬁnancial institutions andsome private ﬁnancial institutions implement such a system.

ー 22 ー6）Involvement with Society and Community①Outreach lessons and science events
Since ﬁscal 2008, TODA KOGYO has implemented factory tours and outreach science lessons forelementary and middle school children, and participated in local science events in Hiroshima. On suchoccasions, we mainly carry out experiments using permanent magnets and motors for students of upper
grades of elementary school.
The children ﬁnd out about the various strengths of permanent magnets, learn about permanent magnets
and electromagnets from an experience of making motors using paper cups and enamel coil, and understandhow permanent magnets and small motors are utilized in automobiles and numerous electric appliances. It isespecially impressive to see how enthusiastically the children try to make their motors to rotate in theirexperiments. We will continue to implement outreach lesson activities so that children are encouraged todeepen their interest in science.
Number of outreach lessons
16

Number of schools
Number of lessons

14
12
10
8
6
4
2
0
2008

2009

2010

2011

＜Scene from an outreach lesson＞

2012

2013

2014

2015

＜Scene from a science event＞②Flower planting campaign
In the area around Kuba Station, the closest
station to the Otake Plant of TODA KOGYO, aﬂower-planting beautiﬁcation campaign is being
implemented primarily by local citizens and thechildren of Kuba Elementary School. Members of
TODA KOGYO have participated in this campaign
since 2011, replanting roadside ﬂowers two times ayear in spring and fall.

ー 23 ーFor Society③Eco Cap Campaign
Toda Pigment Corp. (Okayama City) has been
donating PET bottle caps collected within theplant and the homes of employees to the local
Ok aya ma Mu n icipa l Fu k uwata r i Elementa r y
School since ﬁscal 2013. The returns earned byselling approximately 2 kilograms of PET bottle
caps can be used to donate polio vaccine for one
person. It is a slow and steady activity, however,
we will continue to implement this activity as
something signiﬁcant for deepening
communication with the local community.

7）Initiatives for Biodiversity
TODA KOGYO Group has deﬁned the following speciﬁc action guidelines and promotes business activities
to preserve biodiversity on earth. We also actively participate in local activities such as river cleaning andevent volunteering in order to preserve the regional biodiversity.

Behavioral Guidelines for Biodiversity
1. Recognizing the preservation of biodiversity to be an important issue in the corporation, we willpractice environmental management.
2. We will understand the inﬂuences on biodiversity aﬀected by our business activities including ourraw materials procurement policy, and endeavor to continuously reduce these inﬂuences.
3. We will continuously promote resource saving, energy saving and 3R (reduce, reuse, recycle) not
only in our own business activities but also in cooperation within our supply chain.
4. We will promote manufacture of products which contribute to the preservation of biodiversity,
technological development and innovation of the production process.
5. We will endeavor to enhance communication and contribute to cooperation with customers,
suppliers, other corporations, NGOs, education and research agencies, local governments and so on.
6. Because the activities of each and every employee are essential for preserving biodiversity, we will
increase awareness for protection of abundant ecosystems through education of employees.

＜Cleaning and weeding activities around company facilities＞

ー 24 ー8）Compliance
TODA KOGYO Group has established the Compliance Code of Conduct and Compliance Promotion
Regulations, applicable to all Group companies, in order to ensure that every executive and employee act incompliance with laws, social norms and company s regulations and so on. And we endeavor to promoteand ensure the Compliance.
Here, we introduce two activities that were took place last year.

＜Chart of the Compliance Structure＞＜Teaching materials for an intellectual property seminar＞

Board of Directors (TODA KOGYO)
Devolution

ReportingCompliance Committee
Instruction and supervision

Reporting and recommendation

Compliance Promotion Headquarters
Reporting

Investigation reporting

Compliance Advice Desk

Education and training

Consultation and notiﬁcation Feedback

Executives and Employees (Group Companies)①Intellectual property seminar
As a company based on technology, TODA KOGYO encourages creative activities related to intellectual
property and endeavor to appropriately protect and utilize such property. In order to let R&D members, as thecenter of creative activities, master accurate knowledge on intellectual property, primarily patents, last year weheld a seminar on intellectual property with planning by the Intellectual Property and Patent Group and asking
a lecture for our corporate patent attorneys.
In addition to R&D members, employees in departments throughout the company sat this seminar via the
television conference system. The seminar was held three times on the themes of Outline of the patent
system, How to prepare patent application documents and Technical scope of patent inventions .
Explanations were provided in reference to court cases related to intellectual property and examples of TODA
KOGYO s patent applications. Each seminar was attended by around 40 participants.
According to the questionnaires after attendance, more than 90% of attendants replied that the seminar had
been Useful. In particular, attendants made the following comments: I reconﬁrmed activities that I normallydo in my development work, The contents on review trends, points of responses to notiﬁcations of reasons
for refusal, points of selection of publicly known resources and how to combine resources were very useful,
Understanding of patent infringements deepened, I became aware of the signiﬁcance of continuous patentapplications and so on, suggesting a progress in understandings of intellectual property.
The Intellectual Property and Patent Group will continue to hold in-company seminars with a view topromoting intellectual property activities.
②Information security
Under the present circumstances of the extensive spread of smartphones and PCs, cyber-attacks and thediversiﬁcation of computer viruses, the risk of information leakage can no longer be overlooked by corporations
in all business sectors. TODA KOGYO Group has also experienced situations that could lead to information
leaks, giving cause to re-recognize the importance of information management.
TODA KOGYO Group last year implemented e-learning as a part of its information security education. This
comprised 10 lectures, organized in such a way that employees had to keep repeating lectures until theyearned full marks in the check tests implemented after each one. During the course period of three months, 433
executives and employees completed the lectures, thereby deepening their understanding of information
security.
The Information Security Group will continue to implement similar e-learning courses.
ー 25 ーFor Employees
１）Better Working Environment
TODA KOGYO Group implements measures in compliance with laws and ordinances to ensure thatworkplaces can become places for the activity of each and every employee. And we also endeavor to build abetter working environment overall. Here we introduce the thoughts of two employees from the perspectiveof employee- friendly.

Toda Kogyo Europe GmbH
Tomonori Takamatsu
I was assigned from the Tokyo oﬃce to work on marketingin the German aﬃliate on October 1, 2013.
Toda Kogyo Europe GmbH is a very homely workplace thatcomprises two German and four Japanese employees.
Since my work entails marketing, it is important tocommunicate with European, mainly German customers. In
communicating with them, I have diﬃculty not only inlanguages but also in cultural diﬀerences.
However, thanks to the willingness of the local German superiors and my colleagues to talk with me
about professional and even private matters, I have found my time here to be most rewarding.
Here, I feel that I have the opportunity to try the things I have done in Japan on the wider stage of theEU.
I have also found the dispatch of unconventional ideas and information and challenges presented by
new markets to be highly stimulating and rewarding.
Looking ahead, I hope to continue working on communicating thoughts, ideas and requests forcooperation between Toda Kogyo Europe GmbH, Japan and other overseas oﬃces, and thereby fulﬁll
my role of taking cooperation with our global subsidiaries.
(Interview: January 2016)

Onoda Plant, Production Division
Mari Kawamura
I have two children, one in elementary school ﬁrst grade andthe other four years old. Thanks to the maternity andchildcare leave and short-time working systems, I have beenable to balance my work with domestic duties. I am extremely
grateful for the support of everyone in my oﬃce. Raisingchildren while continuing to work is not easy. However, there
are senior colleagues who have achieved such a balance and
I am helped by their willingness to give advice.
At times when I have to take a break from work due to my children s sudden sickness or events at thekindergarten and so on, everybody in the department has provided follow-up and made it easier for me.
I can achieve a balance between home and work thanks to the company s understanding.
This spring I will give birth to my third child and plan on taking maternity and childcare leave once
again. It is thanks to the company s understanding that I can raise my children like this. I approach mydaily work with gratitude that I have an environment in which I will be able to continue working after
returning from my time oﬀ.
(Interview: January 2016)

ー 26 ー2）Health and Safety Activities①Safety activities
Otake Plant holds an annual Safety Convention asa review of its safety activities. This is attended by not
only the main members in the plant but also
representatives from subcontracting companies andthe head of the labor standards inspection oﬃce. In
the convention, the results of safety activities are
introduced, the head of the labor standards inspectionoﬃce gives a talk, and a safety declaration is adopted
in an eﬀort to promote safety.

②Activities in the Safety and Monozukuri workshop
TODA KOGYO, close to enter its second century,
aims to continue growing and become a monozukuri
enterprise that can make a contribution to society.
Continuous monozukiri corresponds to humandevelopment and we consider it important for eachand every employee to energize workplaces and boost
autonomy and Genbaryoku (capabilities to ﬁnd andsolve problems in the work sites) while feeling job
satisfaction.
The Safety and Monozukuri Center has been
implementing safety education based on thesensations of seeing, touching and thinking for
employees of TODA KOGYO Group and members of
subcontracting companies since October 2014.
In ﬁscal 2015, 258 persons attended 22 safety
workshops, meaning that approximately 45% of alleligible persons had participated in the education so
far.
The trainees not only undergo sensory training but also learn about the essence of the basic 5S (Seiri(arrangement), Seiton (ordering), Seiso (cleaning), Seiketsu (neatness), Shitsuke (discipline)) and make thedecision to change their own workplaces in a declaration of action (target) .
A system has been put in place a few months later whereby it can be conﬁrmed whether or not the targets
set by each trainee are achieved, and this is intended
to encourage a reform of thinking based on reﬂection
and review.
In the sensory training, a pipe draining task has
been added for participants to consider, which
simulates reassembly work on pipes carrying a
hazardous ﬂuid (alkaline solution, etc.). Throughexperiencing this task with their own senses, thetrainees understand and get a feel for ﬂuid principles
and valve structures.
We will continue to further enhance this sensory
safety training. Additionally, eﬀorts will be made toestablish and run monozukuri workshops geared tomaking employees more sensitive to abnormalities in
the workplace and capable of resolving their own
problems.

ー 27 ーFor Employees③Occupational health and safety
TODA KOGYO Group employees experienced zero lost work accidents during ﬁscal 2015, although there
were two such incidents in subcontracting companies. The Environmental & Safety Management
Department and Safety and Monozukuri Center and the health and safety committees in each plant andoﬃce will continue to cooperate and strive for the total elimination of industrial accidents.
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3) Club Activities
As one element of its welfare program, TODA KOGYO encourages employees to have a good leisure timein club activities with the primary objectives of deepening friendship and unity among employees andpromoting physical and mental health.
[Club Activities Introduction]
Here we take a look at the Outdoor Recreation Club and Smash Club of the Tokyo Oﬃce.
The Outdoor Recreation Club organizes outdoor events such as mountain climbing and ﬁshing on holidays,
while the Smash Club is a club activity after work on weekdays at a Minato-ku sports center located just 5
minutes walk from the company.
<Outdoor Recreation Club: Climbing Mt. Tsukuba>▶Outdoor Recreation Club
The club members climbed Mt. Tsukuba during the rainy season. Mt.
Tsukuba, one of the 100 most celebrated peaks of Japan, rises above
the Kanto Plain. Having an altitude of just 877 meters, it is the lowest of
the 100 most celebrated peaks. However, since it is not surrounded byany other high mountains, it aﬀords a view of the Kanto Plain.
Unfortunately, on the day of this visit, it was not possible to enjoy thescenery because of rain. The club members are determined to havebetter luck next time!
▶Smash Club
Members of the Smash Club have showed their remarkable growth
and always play their badminton games hard. The sound of a
shuttlecock being smashed gives the members a real thrill. Table-tennis,on the other hand, is played in a much more relaxed atmosphere akinto a students gathering. The communication that takes place in such an
atmosphere is excited across generations.

ー 28 ー< Smash Club: Badminton>4）Training Systems

New Recruit Training
Among its education systems, TODA KOGYO especially puts eﬀort into its training for new recruits.
Even during the training period, the new recruits work on the front line.
This depicts training for new recruits after entering the company.

Introductory training* All recruits, regardless of whether they be in the engineering ﬁeld or the administrative ﬁeld,
take this group training together.
* The training is intended to switch the trainees from students to members of society in terms of physique,minds and feelings. And it is also intended to impart the trainees understanding of the company and society.
Business manner training
In-company training (lectures about the company s organization andproducts, learning about the various systems, plant tour, etc.)
Zen temple training

Workplace training(5 months from May to September)* This training, in which the new recruits experienced actual workplaces,
is intended to impart understanding of conditions on the ground.
After learning the basics of monozukuri, R&D and marketing activities in manufacturing
plants, R&D centers and sales oﬃces, the recruits are temporally assigned to their respective
departments, where they acquire professional knowledge on the job.

Decision of oﬃcial assignments(October)
Assignments are decided in consideration of each recruit s aptitude and needs in the company.
After that, the recruits gain a variety of experiences according to their wishes and in-company job rotation.

Development Training and Capacity Development System
Improving the market value of human resources (human resources that can function in the market)

OJT
Job-based capacity development

Dispatches to domestic universities, etc.,
qualiﬁcation assistance system, health and safety andquality control education, etc.

OFF-JT
Selected education

Future top managers / Executive-based /Priority issue training

Self-development
Correspondence education assistance system

Individuals can optionally select courses.
If they graduate with outstanding results,
they are exempted from paying tuition fees.

ー 29 ーOrganization chart

General Meeting of Shareholders

Global Fine Material Business Division

Board of Auditors

Tokyo Oﬃce

Board of Directors

Chairman and President

Business Promotion Department

Management Conference

China Business Department

Korea Business Department

Internal Audit Department

Production Division

Compliance Committee

Otake Plant

Corporate Planning Department

Onoda Plant

Business Strategy Department

Safety and Monozukuri Center

Environmental and Safety
Management Department

Corporate Administration Division

Accounting Department

Quality Assurance Department

Personnel and General Aﬀairs Department

Legal Department

Procurement Department

Research & Development Center<Company Data>
Name of company: TODA KOGYO CORP.
Head Oﬃce: Mitsui-seimei Hiroshima-ekimae Bldg. 9F,
1-23 Kyobashi-cho, Minami-ku, Hiroshima, 732-0828 JapanFounded: 1823
Incorporated: November 30, 1933
Capital: 7,477 million yen※As of March 31, 2016

ー 30 ーOﬃces and Subsidiaries
Japan◆Research & Development Center◆Otake Plant
・T&T Innovations Inc.
・Toda Fine Tech Inc.

・Central Battery Materials Co.,Ltd

・Tokyo Shikizai Industry Co., Ltd.
Iwaki Plant

BTBM, Kitakyushu Plant(Kitakyushu , Fukuoka Prefecture)◆ Head Oﬃce

◆Onoda Plant
・BTBM
Onoda Plant

Onoda Plant
BTBM, Onoda Plant(Sanyo-Onoda, Yamaguchi Prefecture)

Research & Development Center(Otake, Hiroshima Prefecture)

Tokyo Shikizai Industry Co., Ltd.
Head Office and Plant(Itabashi-ku, Tokyo)

Toda Pigment Corp.
MT Carbon Co.,Ltd
・BTBM.
Kitakyushu Plant

Otake Plant(Otake, Hiroshima Prefecture)◆Tokyo Oﬃce
・Tokyo Shikizai Industry Co., Ltd.
Head Oﬃce and Plant
・BASF TODA Battery
Materials LLC
Head Oﬃce

Head Office(Minami-ku, Hiroshima)

Tokyo Office(Minato-ku, Tokyo)

Toda Pigment Corp.
(Kita-ku, Okayama)

1* BTBM = BASF TODA Battery Materials LLC.

aOverseas
Toda Advanced
Materials Inc.

Toda America Inc.
Manufacture and sale of electronic materials

Manufacture and sale of electronic materials

Toda Kogyo Europe GmbH
Supply and sale of Group products, etc.

Manufacture and sale of electronic materials

b

c

a
c
Toda Magnequench Magnetic
Material (Tianjin) Co., Ltd.

d

Manufacture and sale of electronic materialsb

TODA Ferrite KOREA Co., Ltd.
Manufacture and sale of electronic materials

e
g

f

d

Toda United Industrial(Zhejiang) Co., Ltd.

※Functional pigments = “colored materials” and “magnetic powder materials”
Electronic materials = “ferrite materials” and “battery materials”

Manufacture and sale of functional pigments

e

d

f

Shenghua Group Deqing
Huayan Paint Co., Ltd.

Toda (China) Co., Ltd.

Manufacture and sale of functional pigments

Procurement and trading

Manufacture and sale of raw materials for electronic materialsgfZhejiang Toda DMEGC
Magnetic Co., Ltd.

Toda Plastic Magnet
Material (Zhejiang) Corp.

TODA MAGNET(SHENZHEN) CO., Ltd.

Manufacture and sale of electronic materials

Manufacture and sale of electronic materials

Manufacture and sale of electronic materials

ー 31 ーTODA KOGYO CORP.
supports SANFRECCE HIROSHIMA!

Published: Oct. 1, 2016