Toyo Ink Group

What Toyo Ink Group does

Toyo Ink Group is a Malaysian-domiciled specialty chemicals manufacturer and distribution group operating through its operating entity Toyo Ink Sdn Bhd. Founded in 1979 and listed on Bursa Malaysia in 2003 (Toyo Ink Group Berhad), the company runs four divisions: an Ink Division manufacturing solvent-based and water-based gravure and flexographic printing inks for flexible packaging (food, pharma, consumer goods, industrial); a Masterbatch Division producing PP and PE color and filler masterbatches (the PE filler using 80-85% Calcium Carbonate) for film-blowing, injection, blow, and extrusion moulding; an Automotive Refinish Product Division distributing the BASF-origin brands Glasurit (premium), Baslac (mid-market), and Norbin (value) for Malaysia and Brunei body shops; and a Prepress Division supplying CTP plates (Diamond-UPG), developers, replenishers, and press room chemicals (TOYO AR230 FOUNT, ROLLER CARE, NEOGUM). Technology differentiators include non-toluene/non-MEK gravure inks (NTM-PET) for treated PE film and heat-sealing inks (LSH, FLEXHS), all manufactured under ISO 9001:2015 with RoHS and REACH compliance and ISO 14001 environmental management.

The business model is product-sale-based across all four divisions, monetized via one-time transactional purchases rather than subscriptions or licensing. Go-to-market is hybrid: direct sales from the Seri Kembangan headquarters and regional branch offices (Ipoh/Perak, Butterworth/Penang, Johor Bahru) cover ink and masterbatch customers, while automotive refinish products route through a 12-dealer authorized network spanning Alor Setar, Bukit Mertajam, Ipoh, Kuala Lumpur, Selangor, Melaka, Batu Pahat, Johor Bahru, the East Coast, and Sarawak. The group also operates a 1990 joint venture with Dainichiseika of Japan (Toyo Dai-nichi Ink) for web offset and newspaper inks, has wholly-owned regional subsidiaries (Perak 1992, Penang 1996, Melaka 2005), and acquired BASF's Glasurit and Masterbatch businesses for Malaysia and Brunei in 2003. Customer segments span packaging converters, plastic manufacturers, and automotive refinish body shops, with no publicly disclosed named anchor customers.

Name

Toyo Ink Group

Legal name

Toyo Ink Sdn Bhd

Website

https://toyoink.com.my

Company type

Private

Founded year

1979

Operating status

Operating

Headcount range

251–500 employees

Short description

Toyo Ink Group is a Malaysian specialty chemicals manufacturer and distributor (since 1979, Bursa Malaysia-listed 2003) producing gravure/flexographic printing inks, PP/PE masterbatches, and distributing BASF's Glasurit/Baslac/Norbin automotive refinish brands for packaging converters, plastics processors, and body shops across Malaysia and Brunei.

Ownership category

akta.pro rank

Product category

Industrial Printing Inks and Colourants

NAICS

Printing Ink Manufacturing (325910), Plastics Product Manufacturing (3261), Printing and Related Support Activities (3231)

akta.pro primary industry

Printing Inks (IMAEAHAG)

akta.pro secondary industries

Packaging Inks (IMAEAHAH), Flexible Packaging Printing & Decoration (Flexo, Gravure, Digital, Cold Foil) (IMALABAM)

Keywords

• Printing inks
• Colour masterbatches
• Automotive refinish paints
• Flexible packaging inks
• Prepress consumables

Headquarters

HQ city

Serdang

HQ country

Malaysia

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Printing Ink Sales: Manufacturing and sale of gravure and flexographic printing inks for packaging industry, including solvent-based and water-based formulations. Ink products are compliant to RoHS and REACH regulations.
2. Masterbatch Sales: Manufacturing and sale of colour masterbatches for polyolefin applications in film-blowing, injection moulding, blow moulding and extrusion moulding industries. Products are environmentally friendly with customized colour options.
3. Automotive Refinish Products: Trading of automotive refinish products including world top brand car paints (Glasurit, Baslac, Norbin) for luxury automobiles and middle-range vehicles, along with application training and colour matching services.
4. Prepress Products and Services: Prepress services including CTP plates (Diamond-UPG), developers, replenishers, and press room chemicals (TOYO AR230 FOUNT, TOYO ROLLER CARE, TOYO NEOGUM).

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Toyo Ink Sdn Bhd manufactures and supplies flexographic and gravure printing inks (solvent-based and water-based) for the flexible packaging industry, PP and PE colour masterbatches for plastic manufacturers, and automotive refinish paint systems (Glasurit, Baslac, Norbin) for body shops. It also distributes prepress consumables such as CTP plates, developers, and press room chemicals. The company serves packaging converters, polyolefin processors, and automotive refinish customers across Malaysia.

Product overview

Toyo Ink Group operates as a diversified industrial coloring solutions provider with three core divisions: Ink Division (manufacturing gravure and flexographic printing inks for flexible packaging), Masterbatch Division (producing color masterbatches for polyolefin applications), and Automotive Refinish Product Division (distributing world-class automotive refinish brands). The company distributes BASF's acquired brands including Glasurit (premium), Baslac (quality), and Norbin (value) for automotive body shop applications across Malaysia and Brunei. The product portfolio includes solvent-based and water-based printing inks, PP and PE masterbatches, prepress consumables, and comprehensive automotive refinish systems with associated hardeners, reducers, clearcoats, primers, and body fillers.

Differentiator

Problem solved

Functional benefit

Brands

• Glasurit: High-end automotive refinish paint brand from BASF with complete line of basecoat, primer, filler, clearcoat systems featuring excellent paint material and comprehensive repair solutions
• Baslac
• NORBIN

Products and services

• Gravure Inks Low-viscosity solvent-based inks for rotary gravure printing used in flexible packaging. Includes surface inks (PMG, PE, PEO, LSH, CCST) and reverse inks (SPVC, OPP/PP, POLY-PET, NTM-PET) for treated films. Manufactured for packaging converters.
• Flexographic Inks Rotary printing inks using flexible rubber plates for flexible packaging. Available in solvent-based formulations (FXT, HPFLEX, EFLEX, FLEXHS) for films and water-based formulations (Flexo Ink, FXLP) for corrugated board and paper applications.
• PP Masterbatch Concentrated pigment and additive masterbatches for polypropylene resin applications including non-woven fabrics, spinning, weaving, extrusion, blown film, and injection moulding. Supplied to plastic processors.
• PE Masterbatch Filler masterbatch composed of 80-85% calcium carbonate with polyethylene carrier. Used in blown film, injection moulding, extrusion, blow moulding, and woven applications to reduce costs and enhance physical properties of PE products.
• Glasurit Automotive Refinish Paint System High-end automotive refinish paint system including basecoat, primer, filler, clearcoat, and auxiliaries. Originally a BASF brand, distributed exclusively by Toyo Ink in Malaysia and Brunei for luxury automobile body shop repairs.
• Baslac Automotive Refinish Paint System Mid-tier automotive refinish paint system based on German technology, providing high-quality paint, digital colour tools, and business solutions for body shops with fast colour matching and strong hiding power.
• Norbin Automotive Refinish Paint System Cost-competitive automotive refinishing products offering reliable quality for body shop applications where value pricing is a primary consideration.
• Prepress Solutions (CTP Plates, Developers, Press Room Chemicals) Digital prepress consumables and chemistry including Diamond-UPG CTP plates, TOYO CTP developer and replenisher, TOYO AR230 FOUNT, TOYO ROLLER CARE, and TOYO NEOGUM press room chemicals for printing operations.
• Automotive Refinish Consumables Range Complete range of refinish consumables including hardeners (MS, VOC, HS Filler, Topcoat), reducers (Normal, Slow, Extra Slow), clearcoats (2K Universal, HS UV, MS), and body fillers (Multi-Purpose, Soft, Plastic, UV) for use alongside Glasurit, Baslac, and Norbin paint systems.

Quantifiable outcome

• Over 40 years of experience in manufacturing of gravure and flexographic printing inks
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• BASFcoreStrategic or Co-development Partner · 1 January 2003In 2003, Toyo Ink Sdn Bhd bought over BASF's 'Glasurit' and 'Masterbatch' business for Malaysia and Brunei market. This strategic acquisition brought world-class automotive refinish brands including Glasurit, Baslac, and Norbin into their portfolio.
• Dainichiseika of JapancoreStrategic or Co-development Partner · 1 January 1990Joint venture company Toyo Dai-nichi Ink Sdn Bhd was formed in 1990 between Toyo Ink Sdn Bhd and Dainichiseika of Japan. The company specialized in the manufacturing of web offset and newspaper inks with technological assistance from Japanese joint venture partners.

Scale indicators6 records

Recent moves11 records

Expansion highlights4 records

Direct peers

• Siegwerk: Global manufacturer of printing inks for packaging and labels, including solvent-based and water-based flexographic and gravure inks directly competing with Toyo Ink's core ink division. Operates a broad international footprint and serves similar packaging converter customers.
• Flint Group: Major global supplier of printing inks (flexo, gravure, offset) and coatings for the packaging industry, directly overlapping Toyo Ink's product portfolio and target customer base of packaging converters in Asia.
• T&K Toka: Japanese manufacturer of offset, gravure, and UV-curable printing inks with focus on packaging and labels. Comparable mid-sized specialty ink producer with overlapping customer profile to Toyo Ink.
• DIC Corporation: Global printing ink and pigment producer with extensive packaging ink offerings; a natural direct peer given the existing Dainichiseika joint venture and overlap in gravure/flexographic ink technology for packaging.
• Hubergroup: European-headquartered printing ink and coatings manufacturer serving packaging and commercial print markets with solvent- and water-based formulations comparable to Toyo Ink's product range.
• Sakata INX: Japanese-headquartered printing ink manufacturer with strong gravure, flexo, and offset ink lines serving packaging customers across Asia. Direct competitor with similar product portfolio targeting the same packaging converter segment.

Emerging players

• Clariant: Specialty chemical company with a significant masterbatch and color additives business for plastics, directly overlapping Toyo Ink's PP and PE masterbatch division serving film-blowing, injection moulding, and extrusion customers.

Broad incumbents

• PPG Industries: Global coatings major with a large automotive refinish business that competes with the Glasurit/Baslac/Norbin portfolio distributed by Toyo Ink. Comparable at the Automotive Refinish Product Division level across paint system, color matching, and body shop training.
• Dainichiseika Color & Chemicals Mfg. Co. Japanese chemical and pigment company that is Toyo Ink's JV partner (Toyo Dai-nichi Ink) and produces a wider portfolio of pigments, inks, and colorants. Comparable as both partner and broad competitive incumbent in inks and color chemistry.

Regional players

• Yip's Chemical Holdings: Hong Kong-listed chemical manufacturer with solvent-based and water-based industrial coatings, inks, and related products across Greater China and Southeast Asia. Comparable regional peer in industrial color chemistry serving packaging customers in adjacent geographies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/toyo-ink

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Toyo Ink Group