Asahi Songwon Colors Limited specializes in the manufacture and export of phthalocyanine pigments and derivatives used in inks, plastics, paints, textiles, and papers. The company has ventured into producing yellow, red, and orange pigments and active pharmaceutical ingredients (APIs), demonstrating diversification beyond its traditional pigment business.

Despite a challenging business environment, Asahi Songwon's diversification into Azo pigments and API has shown strong cash flow generation, enabling the company to accelerate debt repayment and improve its balance sheet.

Asahi Songwon faces demand challenges in the blue pigment segment due to U.S. tariffs and decreased demand from both the U.S. and European markets. However, it maintains robust demand in the Azo segment, achieving significant capacity utilization improvements.

The company has made strategic progress by enhancing its production capabilities and establishing long-standing relationships with major global brands, facilitating sustained business growth opportunities.

It has entered into a joint venture with Tennants Textiles Colours Limited to manufacture Azo pigments, a strategic move aimed at expanding its market reach and strengthening its competitive position in the pigments industry.