Murata Manufacturing Co., Ltd, Ishihara Sangyo Kaisha, Ltd. and Fuji Titanium Industry Co., Ltd, a wholly owned subsidiary of Ishihara Sangyo Kaisha, Ltd., have signed a basic agreement to establish a joint venture to manufacture barium titanate for use in multilayer ceramic capacitors and other products. The three companies plan to proceed with discussions and examinations with the aim of concluding a joint venture agreement. Fuji Titanium Industry Co., Ltd. is one of the Company's suppliers that manufactures barium titanate, a material used in multilayer ceramic capacitors.
Barium titanate, a material used in multilayer ceramic capacitors, is becoming increasingly important in anticipation of further growth in demand for multilayer ceramic capacitors against the backdrop of the rapid development of IT devices and the electrification of automobiles. The Company has signed a basic agreement with Fuji Titanium Industry and its parent company Ishihara Sangyo Kaisha, Ltd. to establish a joint venture company with the aim of increasing the production capacity of barium titanate. Details of the joint venture company to be established are under discussion among the Company, Ishihara Sangyo Kaisha, and Fuji Titanium Industry, and will be announced promptly after a formal decision is made.