Thai Toray Textile Mills Co., Ltd. (now Thai Toray Textile Mills Public Company Limited) and Toray Nylon Thai Co., Ltd. (now Thai Toray Synthetics Co., Ltd.) established in Thailand.
The Japanese synthetic-fiber industry experienced significant growth between the mid-1950s and the mid-1960s, and Toray worked in close cooperation with trading companies to expand its export promotion strategy. Reliance on imported clothes and fabrics in developing countries overseas was high, despite such goods being daily necessities. Seeing that the promotion of a domestic textile industry would result in significant job creation, those countries began to adopt industrialization policies geared toward import substitution. Trading companies encouraged their manufacturers to expand through technology transfer as a mean to protect their markets, and Toray responded proactively. The initial phase of local production followed a basic three-way investment pattern involving a trading company, local capital and Toray. In March 1963, Toray established Thai Toray Textile Mills (now Thai Toray Textile Mills Public Company Limited) (TTTM) as a provider of integrated spinning, weaving and dyeing of polyester-rayon fabric in Thailand, and this was its first overseas local production business.