April 7, 2025 – Kuraray, a prominent player in the chemical industry, has announced its intention to acquire Nelumbo, a company headquartered in Hayward, California, USA. The transaction, facilitated through Kuraray’s U.S. subsidiary, Kuraray Holdings U.S.A., Inc., is set to proceed with the acquisition price currently undisclosed to the public. It is anticipated that this equity transaction will not significantly impact Kuraray’s consolidated financial performance.
The backdrop of this acquisition traces back to Nelumbo’s inception in 2016, originating as a technology startup from the University of California, Berkeley. Since its establishment, Nelumbo has focused on the application and expansion of surface modification technologies across various substrates. As early as 2023, Kuraray entered into an “exclusive collaboration agreement” with Nelumbo, jointly integrating surface modification technologies into fibers and other polymer products. During this partnership, Kuraray thoroughly evaluated Nelumbo’s technological capabilities, concluding that they effectively enhance substrate surface functionalities—particularly waterproofing—without relying on increasingly regulated chemicals like PFAS.
Kuraray has identified “innovation beginning with networks” as one of the three key challenges in its mid-term management plan, PASSION 2026, actively exploring avenues for new business development. Nelumbo’s technology is poised to significantly strengthen and expand Kuraray’s existing polymer chemistry, synthetic chemistry, and related technological frameworks, offering fresh value to the market. According to insights from the Color Masterbatch Industry Network, just recently on March 5, Kuraray made another strategic business adjustment, announcing the cessation of Vecstar™ FCCL flexible copper-clad laminate production by June 2026. However, Kuraray intends to maintain its Vecstar™ liquid crystal polymer film production and sales at the Saijo plant, striving to broaden its application scope and seek new breakthroughs in related businesses.