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The company independently took over the sales department of PANAC Industries Inc., based in Minami Ashigara City, Kanagawa Prefecture. The following is a history of the sales department going back prior to the time before it became independent.

October 1933 Founded as Nakamura Toy Store in Azuma-cho, Sumida-ku, Tokyo.
April 1938 Moves to Horikiri-cho, Katsushika-ku, Tokyo. Changes name to Nakamura Celluloid Kogyojo.
March 1948 Changes name to Nakamura Celluloid Kogyojo K.K. with capital of 195,000 yen. Establishes headquarters in Minami Ashigara City, Kanagawa, and Tokyo Branch in Horikiri, Katsushika-ku, Tokyo.
April 1959 Moves Tokyo Branch to Nihonbashi Muromachi
Begins sales of Fujifilm's Fujitac (Signs an agency agreement in 1961)
December 1964 Raises capital to 30 million yen and expands factory facilities
April 1967 Begins sales of Toray's Lumirror
April 1969 Opens a branch in Nagoya city to increase the number of branches
April 1970 Changes company name to PANAC Industries Inc
April 1972 Establishes Sales Headquarters in Kanda Sudamachi and integrates the sales, accounting and planning departments
Makes the Horikiri location at Katsushika-ku a Tokyo Factory to expand business
October 1972 Opens the Osaka Branch in Osaka City
January 1979 Separates the operations and sales departments at the headquarters to accommodate business expansion.
The sales department becomes PANAC Industries Inc. (Capital 30 million yen).
April 1980 Increases capital to 36 million yen
July 1983 Opens the Matsumoto Branch
February 1984 Transfers the Special Processing department to the new PANAC Giken Corporation
June 1985 Completes the Koyama Factory, and expands the coating and laminating capability
March 1986 Completes the Mie Factory. Installs a clean room to enhance high-quality processing capabilities.
April 1986 Increases capital to 43.2 million yen
October 1987 Establishes Taiwan PANAC
January 1989 Changes company name to PANAC Corporation
February 1989 Increases capital to 95 million yen
February 1990 Opens the Himeji Branch
December 1990 Opens the Nara Branch
April 1991 Establishes PANAC Kikaku Corporation
February 1992 Establishes Hong Kong PANAC
November 1992 Begins operations at Hong Kong PANAC Shenzhen Factory, at Bao An District, Shenzhen
July 1996 Opens the Onomichi Branch
July 1996 Establishes Shanghai PANAC
June 1997 Shenzhen Factory obtains ISO9002 certification.
July 1997 Opens the Kanazawa Branch
July 1997 Increases capital to 142.5 million yen
February 1998 Coating line completed at the Mie Factory (Class 1000)
April 1998 Conversion Department at Mie Factory obtains ISO9002.
February 2000 Increases capital to 310 million yen
March 2000 Tokyo Factory obtains ISO9002.
April 2000 Koyama Factory obtains ISO9002.
Taiwan PANAC obtains ISO9002. (All six domestic and international factories successfully obtain ISO9002 certification.)
August 2000 Opens the Mie Branch
September 2000 Opens the Kumamoto Branch
November 2001 Hong Kong PANAC Shenzhen Factory obtains ISO14001 certification.
February 2002 Mie Factory obtains ISO14001 certification.
March 2003 Establishes PANAC Korea Co., Ltd. (Korea)
April 2003 Completes the Research Building at Fujinomiya Factory
Changes the name of the Mie Factory to Kameyama Factory
Changes the company name of PANAC Giken Corporation to SHES Corporation
December 2003 Taiwan PANAC obtains ISO14001 certification.
January 2004 Establishes Suzhou PANAC Co., Ltd.
April 2004 Headquarters and six domestic and international factories obtain ISO9001 certification.
May 2004 Completes Fujinomiya Factory. Opens the Kameyama Branch.
September 2004 Moves headquarters to Shiba, Minato-ku, Tokyo
April 2005 Hong Kong PANAC opens its Philippines Representative Office
Integrates PANAC Kikaku Corporation with PANAC Corporation
May 2005 Transfers the functions of Koyama Factory to Fujinomiya Factory, ending operations at Koyama
April 2006 Shanghai PANAC obtains ISO14001.
July 2006 Suzhou PANAC obtains ISO14001.
March 2008 Transfers the functions of the Nara branch and the Kanazawa branch to the Headquaters and the Mie branch.
March 2009 Transfers the functions of the Kameyama branch to the Mie branch.
Moves the Mie branch to Sakaemachi,Tsu-shi,Mie.
Transfers the Himeji branch to the Headquaters and the Osaka Branch.
Transfers the functions of Tokyo Factory to the Fujinomiya Factory and Kameyama Factory.
May 2012 Opens Shin-Kawasaki laboratory.
November 2012 Hong Kong PANAC Ltd. spins off Shenzhen Factory.
Establishes Shenzhen PANAC Co., Ltd.
April 2013 Establishes PANAC ADVANCE Co., Ltd
August 2013 Transfers the functions of Matsumoto branch to the Headquaters.
April 2015 Establishes Thai Panac Co.,Ltd.
March 2016 Transfers the functions of Mie branch to the Osaka branch and Nagoya branch.
February 2017 Merged PANAC ADVANCE Co., Ltd.
April 2019 Establishes PANAC AMERICA INC.
October 2019 Begins operation at PANAC ADVANCED FILM MALAYSIA SDN.BHD.
February 2020 Establishes SHENZHEN PANAC TECHNOLOGY LTD.
April 2021 Moves headquarters to Shibaura, Minato-ku, Tokyo.