We intend to provide products that our customers require, keeping pace with changes in their needs and the needs of society. SEIKO PMC will enhance its corporate value and provide new values to its customers by putting its business resources to effective use in its paper making chemical business and resin business, as well as in new business areas.
SEIKO PMC was established in April 2003 as a result of a merger between Japan PMC and Seiko Chemical Industries. In October 2006, SEIKO POLYMER, a manufacturer of ink and recording resins and a wholly owned subsidiary of SEIKO PMC, was merged into the Company. The merger will result in a more efficient allocation of business resources and synergy in the area of technical development, this will enhance our new business development.
In accordance with the business principle of "aiming for corporate prosperity through contribution to the realization of a livable society", SEIKO PMC will aggressively develop and launch eco-friendly, resource-saving products, such as paper making chemical systems which enable more efficient recycling of used paper and waterbased resins for flexo and gravure printing ink.
Even though the Japanese paper market is mature, there is growth potential for paper chemicals by providing qualitative innovations such as "newsprint paper that accommodates increased color prints", "bulky paper that gives a luxurious look to books", and "tissue paper that is soft to the touch". New printing technology is continuously being evolved that requires new resins and chemistry to achieve optimum results. SEIKO PMC will responds to these needs based on its large body of technology and knowledge that is constantly being updated and increased.
Paper production has been growing at a rate of over 10% annually in China. In 2005, China was ranked second globally at 56 million tons, following the 82 million tons of the United States. As the chemical market expands, the demand for various paper making chemicals also increase because of increased recycling. More consumer oriented grades, and a more sophisticated mix of products. SEIKO PMC began local producing and selling paper making chemicals in China in 2006 because the time had come to utilize its diverse and advanced paper chemical know how developed for the Japanese market in China.
SEIKO PMC intends to start up a new business by using its core technologies of emulsification, dispersion, and polymer synthesis. We will use our extensive R&D group to develop new products that will become the basis for our new business ventures that will grow into our third pillar supporting our paper and resin business.