Injection molding machine makers Nissei, Toyo will merge 

Nissei Plastic Industrial Co. Ltd. and Toyo Innovex, two Japan-based manufacturers of injection molding machine (IMM) technologies, announced Nov. 14 that they will combine their businesses.  

Subject to the approval of the companies’ shareholders and any other necessary permits, the merger is expected to become effective April 1, 2026. Once that happens through a share transfer, the companies will become wholly owned subsidiaries under a parent company, GMS Group Co. Ltd. based in Tokyo, according to a document announcing the merger. 

Hozumi Yoda of Nissei will be chairman and CEO of the combined company, and Yoshiaki Tabata of Toyo will be president and COO. 

The two companies opted to make the move after an assessment of the challenges facing both businesses and determining they could no longer meet the demands of the business environment alone. Those challenges include lessening demand and rising costs, tightening global competition, environmental concerns and the shortage of skilled workers. 

“Through extensive discussions, the companies reached a shared understanding that relying solely on traditional approaches imposes limits on growth and long-term viability within the current challenging business environment. Furthermore, they determined that this business integration would enable initiatives that could not be achieved individually,” states the document announcing the merger.  

The document notes that while Nissei and Toyo both manufacture IMMs, the companies’ offerings are complementary, rather than redundant. Nissei makes small-tonnage all-electric IMMs and hydraulic and hybrid presses in a wide range of sizes, including super-large presses exceeding 2,000 tons of clamping force. Toyo’s machines are all-electric and run from small to large tonnages. 

With manufacturing bases in five countries — including the U.S., Japan, China, Thailand and Italy — Nissei has recently made news with several expansions. It is slated to build a new factory in India, and at the beginning of this year, it provided an update about the expansion of its U.S. facility in San Antonio. In response to inquiries about super large-size IMMs for markets such as automotive, housing and construction, the company is adding over 30,500 square feet of new floor space in Texas to allow assembly of IMMs with clamping forces of up to 3,000 tons.   

Nissei was founded in 1947, and sales outside Japan account for about two-thirds of its business. 

Founded in 1925, Toyo maintains manufacturing bases in Japan and China. Unlike Nissei, it makes die casting machines, in addition to IMMs. As of March 31, 2025, 73.2 percent of its sales related to IMMs, while sales related to die casting machines accounted for 26.8 percent of its business. Overseas sales constituted 69.5 percent of its total sales.  

Among other benefits, the companies anticipate the merger will create advantages related to design and development, cost reduction through sharing of mechanical components, improved production efficiency, shortened delivery times, and expanded product lineup and strengthened service infrastructure. 

As of the fiscal year ending in March, Nissei had total consolidated assets of about $557.4 million, and Toyo had assets of about $194 million. GMS Group annual sales are expected to be approximately $480.2 million, according to a supplement to the announcement.