Sale of Nikko Fuji Precision (Wuxi) Co., Ltd.

JX Advanced Metals Corporation (President: Hayashi Yoichi; "the Company") has decided to sell all of its equity in Nikko Fuji Precision (Wuxi) Co., Ltd. ("NFP (Wuxi)"), a wholly owned subsidiary of the Company.

The Company has been developing its functional materials business in the areas of precision rolling, including treated rolled copper foil and high-performance copper alloy strips, and precision fabrication, including pressing and plating. NFP (Wuxi), as the main overseas base for the precision machining business, manufactures and sells precision-machined products with precious metal plating, but its profitability and capital efficiency have failed to meet the Company's targets.

The Company is in the process of re-centering its portfolio on the advanced materials field to leverage its strengths in that area, guided by the basic policies of the "JX Nippon Mining & Metals Group Long-Term Vision 2040." Within the functional materials business, the Company has decided to focus its management resources on strengthening the core precision rolling business. As a result, following on from the sale of shares in JX Metals Precision Technology Co., Ltd. announced in October 2023, the Company has now decided to sell its shares in NFP (Wuxi) as well.

Going forward, the JX Advanced Metals Group will continue to contribute to social development and innovation as a global leader in advanced materials in accordance with its Long-Term Vision 2040.

【Reference】Nikko Fuji Precision (Wuxi) Co., Ltd. (as of June 1, 2024)