TOPPAN Holdings Strengthens Collaborative Network in Decorative Surfacing Materials Business

17 November 2023: TOPPAN Holdings Inc. has entered into a capital and business alliance agreement with JOYFUL Co., Ltd., a Vietnamese printer of decorative surfacing materials, in July 2023 to drive global development of the decorative surfacing materials business. After receiving approval from Vietnamese authorities in October, the two companies are launching full-scale collaboration, including sales and marketing activities, in November.

In recent years, the ASEAN market has become one of the world’s largest consumer markets for a variety of products. It has also become an export base for developed countries due to its diverse manufacturing and labor resources and is experiencing rapid economic growth and development. In furniture industry, manufacturing and outsourcing locations serving mainly European and American furniture manufacturers are now dispersed throughout countries and regions outside China, which is becoming increasingly important to support the furniture industry in ASEAN region.

With the new collaborative agreement, the two companies will further strengthen their existing production capabilities based on the design license and expand business in ASEAN region as partners in production and sales of decorative papers and films for furniture and interior components.

TOPPAN Group’s strengths include design development, technological capabilities, and a global platform in the field of decorative surfacing materials. JOYFUL’s strengths, meanwhile, include its decorative paper and film production capabilities in Vietnam and its business network in the ASEAN region. Through the business alliance agreement, the two companies will combine their strengths and know-how to enhance the quality and value of the products they offer and further expand their existing licensed production business for decorative papers and films.

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