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Toyo Aluminium K.K. and UACJ Foil Corporation have postponed their planned business merger, originally scheduled for April 1, 2023, due to antitrust procedures. JIC Capital will acquire 80% of the new integrated company's voting stock.
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.