By Daiki Kawasaki / Yomiuri Shimbun Staff Writer

Four Japanese companies -- Mitsubishi Materials Corp., JX Advanced Metals Corp., Mitsui Kinzoku Co. and Marubeni Corp. -- have announced that they will start discussions to integrate their businesses for purchasing materials for copper smelting and selling related products.

As competition with Chinese and other players in the copper smelting industry intensifies, the four rival companies intend to join hands to reduce costs and enhance their competitiveness. Marubeni is a trading company, while the other three are major non-ferrous metal companies.

According to Tuesday's announcement, the four companies envisage integrating Mitsubishi Materials' target businesses into Pan Pacific Copper Co., which is a joint venture among JX Advanced Metals, Mitsui Kinzoku and Marubeni, by the end of March 2026. Pan Pacific Copper engages in purchasing and selling copper-related materials.

JX Advanced Metals holds a 47.8% stake in Pan Pacific Copper, while Mitsui Kinzoku holds 32.2% and Marubeni holds 20%. Once Mitsubishi Materials joins, Pan Pacific Copper is expected to become an equity-method affiliate of each company.

Japanese copper smelters import materials from overseas mining companies. Demand for copper is rising globally due to its use in semiconductor materials, among others, leading to competition for materials with players like Chinese firms, which are rapidly increasing their smelters.

"There are limits to each company operating individually. We hope to create a structure where we can reap the benefits as quickly as possible," said Yoichi Hayashi, president and CEO of JX Advanced Metals, at a press conference.

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This article is from The Yomiuri Shimbun. Neither Dow Jones Newswires, MarketWatch, Barron's nor The Wall Street Journal were involved in the creation of this content.

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November 12, 2025 06:37 ET (11:37 GMT)

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