The M&A deal in Malaysia introduced here is a deal in which AICA Kogyo acquired a stake in a Malaysian adhesive manufacturer in February 2021.
AICA Kogyo is listed on the First Section of the Tokyo Stock Exchange and the Nagoya Stock Exchange, with annual sales of approximately 190 billion yen, and is engaged in the chemical products business, including adhesives, and the building materials business, mainly melamine decorative laminates. In particular, AICA boasts the largest share of the melamine decorative laminate market. AICA is actively expanding into Asia. In Malaysia, the company has two subsidiaries: AICA Malaysia, which manufactures and sells industrial resins, adhesives for plywood, and resins for fiberboard, and Maica Laminates Sdn Bhd, an affiliate company in which AICA invested in 1999. The company in which AICA Kogyo acquired its shares is ADTEC, a Malaysian manufacturer and distributor of hot melt adhesives.