JX Advanced Metals IPO Preview

• JX Advanced Metals (5016 JP) is seeking to raise about ¥460 billion in the upcoming IPO on the Tokyo Stock Exchange. The indicative IPO price is ¥862 per share.

• The final IPO pricing will be on 10 March. JX Advanced Metals will be listed on 19 March. Eneos is selling as many as 534.9 million shares in the IPO.

• The company has a strong customer base. It is a key supplier to TSMC, Samsung, Intel, SK Hynix, and Micron for sputtering targets and high-purity metals.

JX Advanced Metals (5016 JP) is getting ready to complete its IPO on the Tokyo Stock Exchange in March. The company is seeking to raise about ¥460 billion ($3 billion). The indicative IPO price is ¥862 per share.

The final IPO pricing will be on 10 March. JX Advanced Metals will be listed on 19 March. Eneos (Japan's largest oil refiner) is selling as many as 534.9 million shares in the IPO of JX Advanced Materials. JX Advanced Materials has about 60% global market share for sputtering target materials, which are used in the semiconductors circuitry.

The key objectives of the IPO include to improve financials for capital investments and R&D, expand global operations, enhance technological innovation, and improve corporate value through independent management.

IPO Offering Details of JX Advanced Metals (Source: Tokyo Stock Exchange)

JX Advanced Metals Company Background

JX Advanced Metals Corporation (JXAM) is a prominent Japanese non-ferrous metal company operating under the umbrella of ENEOS Holdings. Established in 1905, JXAM has evolved into a global leader in the production of advanced materials essential for various industries, particularly in the semiconductor and information and communications technology (ICT) sectors. The company had 9,282 full time employees (consolidated) as of 31 March 2024.

The company's comprehensive operations encompass resource development, smelting, refining, recycling, and the manufacturing of high-tech materials. JX Advanced Materials (JXAM) operates through the following main business segments:

• Thin Film Materials: JXAM holds approximately 60% of the global market share in sputtering targets, which are crucial for semiconductor and display manufacturing. Sputtering targets are crucial for producing memory chips, logic devices, and flat-panel displays, used in smartphones, data centers, and automotive electronics.

  • Key products of the company for thin film materials include high-purity copper and titanium sputtering targets, materials for advanced semiconductor nodes, and thin film coatings for display panels.

  • Major customers for the company's thin film materials include leading semiconductor foundries and panel manufacturers.

Source: Company data