News
JX Metals to acquire Toho Titanium to bolster semiconductor CVD and ALD material supply chain
Wednesday, February 25, 2026 at 09:04 AM
JX Metals Corporation plans to make Toho Titanium a wholly-owned subsidiary to enhance synergies in sputtering targets and chloride materials for next-generation CVD and ALD processes. Additionally, they are considering spinning off the titanium metal business and involving Nippon Steel as a capital participant.
Context
JX Advanced Metals announced on February 25, 2026, that it will acquire Toho Titanium as a wholly-owned subsidiary via a share exchange ratio of 0.70. Supported by ENEOS Holdings, the transaction consolidates the group’s high-purity material expertise following JX Advanced Metals' record-breaking IPO in 2025. The deal is designed to secure critical supply lines for the rapidly expanding AI chip and high-bandwidth memory (HBM) sectors.
The merger focuses on next-generation CVD (Chemical Vapor Deposition) and ALD (Atomic Layer Deposition) materials, which are vital for semiconductor miniaturization and complex 3D structures. By integrating Toho Titanium’s chloride technologies, JX Advanced Metals aims to enhance its global leadership in sputtering targets and high-purity metal precursors required by leading global foundries.
Simultaneously, the industrial titanium metal business will be spun off into a separate entity. Nippon Steel has entered formal discussions to take a capital stake in this new spin-off. This restructuring allows JX Advanced Metals to pivot toward high-growth, high-margin electronic materials while Nippon Steel stabilizes the industrial titanium supply chain through a dedicated strategic partnership.
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