On September 17, Toray announced that it had established a joint venture in the Republic of India with MAS Holdings Ltd. (MAS), a company that manufactures and sells garment products.
<Artist's rendering of TOMA's factory and other facilities>
The ownership structure is 60% for the Toray Group and 40% for MAS Corporation.
The new company (Toray MAS Apparel India Private Limited, hereinafter "TOMA") will construct a new manufacturing facility in Odisha, Republic of India, and is scheduled to begin operations in the second half of 2026.
Toray and MAS Corporation position TOMA as a garment base in India and plan to further strengthen their partnership and implement strategies that leverage the strengths of both companies.
TOMA will combine MAS's extensive apparel manufacturing know-how and long-standing manufacturing experience in India with Toray's integrated design and advanced processing technologies, from raw yarn to finished garments, to expand its business in the Indian market and establish a global supply system.
Furthermore, as a base for Uniqlo's garment business in South Asia, with whom Toray has a strategic partnership, the facility will promote the advancement of the supply chain in the Indian market and contribute to job creation and economic growth in Odisha state by manufacturing high-quality, innovative products.
■ Overview of TOMA Corporation
Location: Within the grounds of MAS Apparel Park Bhuinpur, Odisha, Republic of India
Business activities: Manufacturing and sales of garment products.
Established date: September 2025
Ownership ratio: Toray Industries (HK) Ltd.: 51%
Toray Industries (India) Private Limited: 9%
MAS Holdings (Pvt) Ltd.: 40%
