# Toyo Aluminium and UACJ Foil to merge with JIC Capital investment

Toyo Aluminium and UACJ Foil signed a basic merger agreement to combine operations on April 1, 2023. JIC Capital will hold 80% of the new company's voting rights and UACJ will hold 20%, with the aim of strengthening competitiveness in aluminium foil, especially for lithium-ion battery applications.

- Type: Acquisition
- Announced: 2022-08-31
- Where: Japan
- Status: announced
- Products: aluminium foil, lithium-ion battery foil
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [UACJ](https://endata.com/companies/19822.md) (partner)
- [Nippon Light Metal Company](https://endata.com/companies/44907.md) (partner)
- [Toyo Aluminium](https://endata.com/companies/65022.md) (target)
- [UACJ Foil](https://endata.com/companies/65023.md) (target)
- [JIC Capital](https://endata.com/companies/65024.md) (investor)

## Sources

- [toyal.co.jp](https://www.toyal.co.jp/chi/whatsnews/2022/08/2022083102.html), 2022-08-31: "We believe that through this business merger, we can meet the growing customer demand, including automotive LiB manufacturers, by improving production efficiency in the short term."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.