TOPPAN Holdings Inc. and Toyo Seikan Co., Ltd.  have agreed to explore the possibility of establish a joint venture in Sweden. Particularly, the two companies have signed a letter of intent.

The planned joint venture aims to manufacture and sell packaging for automotive lithium-ion batteries in Sweden.

Accordingly, 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. Specifically, for use in smartphones and electric vehicles (EVs) in Japan.
Recently, sales of EVs have been expanding globally amid efforts to achieve carbon neutrality. Furthermore, in Europe, efforts to promote the switch to EVs are underway, requiring cars to be zero-emission from 2035.

Therefore, this is driving demand for square cans used as packaging for lithium-ion batteries at European automakers. However, due to considerations related to transportation efficiency, there are calls for production closer to where the demands are.
For these reasons, TOPPAN and Toyo Seikan will sign an LOI on establishing a joint venture in Sweden. Thus, strengthening their supply of lithium-ion battery packaging.

After establishing the joint venture, TOPPAN and Toyo Seikan aim to launch manufacturing operations in Sweden in 2026 or later. Moreover, the two companies hope to contribute to carbon neutrality through the business of lithium-ion batteries for EVs.

Contributes to Sustainability Goals

Established in Tokyo in 1900, the TOPPAN Group is a leading and diversified global provider. Furthermore, the company commits itself to delivering sustainable, integrated solutions in fields including printing, communications, security, packaging, décor materials, electronics, and digital transformation.

The TOPPAN Group’s global team has over 50,000 employees, offering optimal solutions enabled by industry-leading expertise and technologies. Thus, addressing the diverse challenges of every business sector and society and contribute to the achievement of shared sustainability goals.

24 June 2024