TOPPAN : and Toyo Seikan to Sign LOI on Establishment of Joint Venture Manufacturing Packaging for Automotive Lithium-Ion Batteries in Europe
June 21, 2024 at 06:31 pm EDT
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Illustration of lithium-ion battery packaging to be supplied by planned joint venture between
TOPPAN Holdings and Toyo Seikan
Tokyo - June 21, 2024 - TOPPAN Holdings Inc. (TYO: 7911) (TOPPAN Holdings) and Toyo Seikan Co., Ltd. (Toyo Seikan) will sign a letter of intent (LOI) on the establishment of a joint venture that will manufacture and sell packaging for automotive lithium-ion batteries in Sweden. The joint venture will aim to launch manufacturing operations in fiscal 2026 or later.
Background
In 2011, TOPPAN Holdings and Toyo Seikan established T&T Enertechno Co., Ltd. as a joint venture manufacturing packaging for lithium-ion batteries used in smartphones and electric vehicles (EVs) in Japan.
EV sales are expanding globally as carbon neutrality is targeted, and efforts to promote the switch to EVs are underway in the European Union with the introduction of a CO₂ reduction target requiring all new cars to be zero-emission from 2035. This is driving demand for square cans used as packaging for lithium-ion batteries at European automakers, but due to considerations related to transportation efficiency, there are calls for production closer to where they are needed.
TOPPAN and Toyo Seikan will therefore sign an LOI on establishing a joint venture in Sweden to strengthen their supply of lithium-ion battery packaging.
Overview of the planned joint venture
Company name
To be determined
Location
Sweden
Representative
To be determined
Business
Manufacturing and sales of packaging for lithium-ion batteries used in automobiles
Date of establishment
January 2025 (planned)
Launch of manufacturing
Fiscal 2026 or later (planned)
Ownership
Toyo Seikan 51%, TOPPAN Holdings 49%
Capital
To be determined
Total investment
Approximately ¥11 billion (planned)
Schedule
Signing of joint venture agreement
August 2024 (planned)
Establishment of joint venture
January 2025 (planned)
Launch of operations
Fiscal 2026 or later (planned)
Future
After establishing the joint venture, TOPPAN and Toyo Seikan aim to launch manufacturing operations in Sweden in fiscal 2026 or later. The two companies hope to contribute to carbon neutrality through the business of lithium-ion batteries for EVs.
About Toyo Seikan
https://www.toyo-seikan.co.jp/e/
About the TOPPAN Group
Established in Tokyo in 1900, the TOPPAN Group is a leading and diversified global provider committed to delivering sustainable, integrated solutions in fields including printing, communications, security, packaging, décor materials, electronics, and digital transformation. The TOPPAN Group's global team of more than 50,000 employees offers optimal solutions enabled by industry-leading expertise and technologies to address the diverse challenges of every business sector and society and contribute to the achievement of shared sustainability goals.
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Toppan Inc. (formerly Toppan Printing Co., Ltd.) specializes in printing services. Net sales break down by activity as follows:
- information and communication media printing (57.6%): smart cards, identity authentication systems, commercial forms, labels, booklets, manuals, lottery tickets, brochures, calendars, books, dictionaries, magazines, catalogs, etc.;
- packaging and industrial materials printing (28.2%): food packaging, card boxes, papers, interior decoration materials, etc.;
- manufacturing of electronic materials (14.2%): semiconductors, filters and antireflection for screens films, etc.
Net sales are distributed geographically as follows: Japan (72.1%), Asia (15.9%) and other (12%).
TOPPAN INC. 
