JX Advanced Metals Sells Equity in Nikko Fuji Precision (Wuxi)

JX Advanced Metals, led by President Hayashi Yoichi, has announced its decision to sell all of its equity in Nikko Fuji Precisioni, a wholly owned subsidiary. This move aligns with the company's strategy to focus on its core precision rolling business within the advanced materials sector.

NFP Wuxi has been involved in manufacturing and selling precision-machined products with precious metal plating. However, its profitability and capital efficiency have not met the company's targets. As part of its "JX Nippon Mining & Metals Group Long-Term Vision 2040," JX Advanced Metals aims to strengthen its position in the advanced materials field by reallocating resources to its core competencies.

This decision follows the sale of shares in JX Metals Precision Technology Co., Ltd. in October 2023. By divesting from NFP Wuxi, JX Advanced Metals intends to reinforce its focus on precision rolling, such as treated rolled copper foil and high-performance copper alloy strips, which are central to its functional materials business.

NFP Wuxi, located in Wuxi, Jiangsu, China, is led by Chairman Soga Takashi and employs 40 people. The company will continue its operations in the precision fabrication sector until the completion of the sale.