Mitsubishi Chemical Corporation (MCC; Head office: Chiyoda-ku, Tokyo; President: Masayuki Waga) has concluded a framework agreement with Konfoong Materials International Co., Ltd. (KFMI; Head office: Yuyao, Zhejiang, PRC; President: Lijun Yao) and KFMI Group company TCPR (Shanghai) Electro-Mechanical High-Tech Co., Ltd. (TCPR; Head office: Shanghai, PRC; President: Lijun Yao) for the transfer of MCC’s light metal products business.

KFMI and TCPR manufacture sputtering target materials for semiconductors and liquid crystal displays, and rank among the top companies in the world for the manufacture of aluminum target materials, in particular. KFMI and TCPR plan to strengthen their businesses by acquiring businesses positioned upstream from their own operations, and securing a base in Japan. The two companies have a wealth of expertise in the global high-purity aluminum industry, and are long-standing purchasers of MCC’s light metal products.

This transfer is part of efforts to enhance portfolio management based on the Mitsubishi Chemical Holdings Group’s APTSIS 20 medium-term management plan, and is scheduled for completion in April 2021. In conjunction with the transfer, MCC is also considering withdrawal from manufacture and sales of KN series products (aluminum alloy for molding applications), which form part of its light metal products business but are not included in this transfer.