Mar. 20, 2023 /SemiMedia/ -- Murata Manufacturing Co., Ltd. announced the resolution to enter into a joint venture agreement with Ishihara Sangyo Kaisha, Ltd. and Fuji Titanium Industry Co., Ltd. to establish a joint venture company MF material, Co., Ltd., to produce barium titanate used in multilayer ceramic capacitors and other products.

Barium titanate, a material used in multilayer ceramic capacitors, is becoming increasingly important in anticipation of further growth in demand for multilayer ceramic capacitors amidst the rapid development of IT devices and the electrification of automobiles.

The joint venture company has a plan to construct a new plant in Nobeoka City, Miyazaki Prefecture, for enhancing the production capacity of barium titanate and will seek to achieve further improvement in quality and productivity by combining the respective manufacturing technologies and know-how that Fuji Titanium and the Company have cultivated.

The joint venture company will be established whereby Fuji Titanium will execute a company split to separate main assets, liabilities, and other items related to the barium titanate manufacturing business, following whichFuji Titanium, Murata and Ishihara Sangyo will take a 55%, 35% and 10% stake, respectively.