Japan’s Sojitz Corporation is set to acquire a 5% stake in Masan High-Tech Materials (MSR), a subsidiary of Vietnamese conglomerate Masan Group.
The purchase price of the transaction will be no lower than that of US-based precision engineering firm Elmet’s investment in MSR last month, per an announcement. Elmet earlier subscribed to a 4.99% interest in MSR, valuing the Vietnamese tungsten producer at $2.5 billion.
Sojitz will also enter into long-term commercial agreements for the distribution of MSR’s tungsten and fluorspar products in Japan, Masan said.
Accordingly, Sojitz will market MSR tungsten to Japanese customers in the semiconductors industry, as well as to customers in the AI infrastructure, aerospace, energy, automotive, cemented carbides, and chemicals industries.
The new investment is part of MSR’s strategy to build a long-term investor base ahead of its planned public listing in 2027.
MSR reported a 409% jump in revenue in the first nine months of this year to 25.7 trillion dong ($1 billion). Profit after tax in the period reached 4.35 trillion dong, compared to a loss of 211 billion dong in the same period last year.
