News Release

JX Nippon Mining & Metals Corporation (President: Shigeru Oi; “JXNMM) announces that it has decided to acquire shares of two companies held by its parent company JXTG Holdings, Inc., namely, Toho Titanium Co., Ltd. (“Toho Titanium”; 36 million shares amounting to 50.38% of outstanding shares) and TATSUTA Electric Wire and Cable Co., Ltd. (“TATSUTA”; 23 million shares amounting to 36.80% of outstanding shares).

Use of electronic components and devices is expected to increase drastically with the upcoming IoT and AI society. In this context, JXNMM has been working to develop and strengthen its electronic materials business, included among the core technology-based businesses for focus in JXNMM’s Medium-Term Management Plan for the fiscal years 2017 to 2019. To this end, JXNMM decided to acquire shares of Toho Titanium and TATSUTA, establishing a direct capital relationship with these companies, toward faster and more effective business development in the downstream areas of JXTG Group Metals business.

This will enable going beyond the existing businesses of these firms, bringing together their respective technologies, expertise and other management resources and putting them to organic, dynamic use. By more quickly and effectively taking advantage of the synergies in new businesses such as metal paste and next-generation semiconductor materials, JXNMM will contribute to the advancement of the IoT and AI society.