An unknown joint venture partner agreed to acquire remaining 50.8% stake in JEM Korea Co., Ltd. from Japan Electronic Materials Corporation (TSE:6855) on March 23, 2018. Upon completion, Japan Electronic Materials Corporation will hold no stake in JEM Korea Co., Ltd. and the joint venture agreement will be cancelled. For the period ended March 2017, JEM Korea Co., Ltd. reported total assets of ¥1.6 billion, net assets of ¥146 million, sales of ¥2.4 billion, and net loss of ¥82 million. The transaction was resolved by the Board of Directors of Japan Electronic Materials Corporation on March 23, 2018. The transaction is expected to be completed by mid-April 2018 and the joint venture agreement will be cancelled on March 31, 2018.