The Dodge Line recession dealt a further blow to our company, which was already struggling due to the discontinuation of wartime compensation and having to do business under the coupon system. It became difficult for us to collect payment for our products and were forced to record a net loss for the period. With debts continuing to balloon, our cash flow worsened, pushing the company to the brink of factory closures. In this dire situation, we scrambled to find a lender and sought support from Iino Kaiun, leading to their decision to take a stake in our company and become part of its management. Following this, directors and an auditor were dispatched from Iino Kaiun, finally allowing us to secure a clear path for our cash flow.

“MARBLAC” was acclaimed for its excellent build and quick-drying properties, providing a foothold for our entry into the wood coating field, and by around 1955, it had grown into a core product of our industrial division.

“SILVAX” was a groundbreaking product and the first in Japan to use aluminum powder in an undercoat for hull coating, becoming a product that has sold steadily over many years due to its unique characteristics.

“EVABOND” was described as a “revolutionary product for the shipbuilding process” and was adopted by shipyards nationwide immediately upon its release. Usable right from the shot blasting stage due to its short drying time, and capable of withstanding long-term exposure, it dramatically reduced the man-hours required for rust removal.

The thick-film application of “BISCON,” a tar epoxy coating primarily used for crude oil and ballast tanks, was a groundbreaking protective coating that met the needs created by the increasing size of ships, allowing us to establish an extensive track record on numerous large tankers. Then, in 1973, the Hiroshima Factory became the industry’s first JIS-certified factory for tar epoxy coating.

Entering the late 1950s, our company rode the wave of rapid economic growth and deployed an aggressive expansion strategy. One of the flagship initiatives of this strategy was the construction of the Shiga Factory. The decision to locate in Yasu Town, Shiga Prefecture, was the result of the town’s efforts to attract industry, and our Shiga Factory was the first to be established under that initiative. Subsequently, a new chemical products factory was constructed there in 1971.

That year, a mutual technology exchange agreement was signed with Red Hand, marking our first business alliance with an overseas coating manufacturer. Based on this agreement, a joint venture called Japan Red Hand K.K. was established the following year to sell Red Hand’s products within Japan (renamed Japan International Red Hand in 1969 following the merger of parent company Pinchin Johnson & Associates Ltd. and International Paint). While the business performance of Japan Red Hand K.K. remained strong, the mutual technology exchange agreement with the company terminated upon the expiration of the contract period in May 1973.

In the chemical products division, which focused on polyvinyl chloride resin stabilizers, the newly developed strengthening agent for glass, “GLAHARD,” saw an increase in orders. In addition to its use as a glass surface hardener, “GLAHARD” was also utilized as a conductive treatment agent for products such as fluorescent tubes, electron tubes, and liquid crystal displays.

Having gained worldwide recognition for the quality of our products, our company proactively exported products and formed business alliances with overseas coating manufacturers. We established our first overseas base, a representative office in London, in 1968. Over the next four years leading up to 1972, we established sales bases in New York, Hong Kong, and Singapore.

The development of mold release coatings for formwork plywood used in concrete construction started with the utilization of the urea resin “PRISSLITE,” which had been well-received for use in decorative items before the war. “PANECRETE,” which was developed from these earlier applications, was used in various concrete building projects due to the beautiful finish it provided, its excellent mold release workability, and other advantages.