Murata to set up JV to produce MLCC raw materials
Murata Manufacturing plans to set up a joint venture agreement with Ishihara Sangyo Kaisha, Ltd. and Fuji Titanium Industry, a subsidiary of Ishihara Sangyo.
The companies will establish a joint venture company to manufacture barium titanate for use in MLCCs and other products.
Fuji Titanium is one of Murata’s suppliers that manufactures barium titanate, a material used in MLCCs. Barium titanate is becoming increasingly important in anticipation of further growth in demand for MLCCs amidst the rapid development of IT devices and the electrification of the automotive industry.
According to a press release, the joint venture company has a plan to construct a new plant in Nobeoka City, Miyazaki Prefecture, to enhance the production capacity of barium titanate.
The joint venture company will be established whereby Fuji Titanium will execute a company split to separate main assets, liabilities, and other items related to the barium titanate manufacturing business, following which Fuji Titanium, Murata and Ishihara Sangyo will take 55%, 35% and 10% stake, respectively.
The establishment of the joint venture company is scheduled for June 1, 2023.