Loan for Semiconductor‑Grade Polycrystalline Silicon Manufacturing and Sales Business of Tokuyama Corporation’s Malaysian Joint Venture
Supporting Overseas Business Expansion of Japanese Company in Semiconductor Sector

• Region: Asia
• Manufacturing and Services
• Overseas Investment Loans

1. The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed a loan agreement^*1 amounting to up to approximately USD54 million (JBIC portion) with OCI Tokuyama Semiconductor Materials Sdn. Bhd. (OTSM), a Malaysian joint venture established by Tokuyama Corporation (Tokuyama) and a subsidiary of OCI Holdings Company Limited (OCI), a Korean company. The loan is co-financed with MUFG Bank (Malaysia) Berhad, a subsidiary of MUFG Bank, Ltd. and Shinhan Bank, bringing the total co-financing amount to approximately USD217 million.
     
2. The loan is intended to provide the funds necessary for OTSM to conduct the manufacturing and sales of semiconductor‑grade polycrystalline silicon in Sarawak, Malaysia.
     
3. Semiconductors are core components underpinning the digital society. Accordingly, securing technological development and manufacturing capacity throughout the value chain is critically important from an economic security perspective. Tokuyama is a manufacturer engaged in the production and sale of various materials used across a wide range of fields, including chemicals, electronic and advanced materials, and life science applications. Its semiconductor-grade polycrystalline silicon, produced by Tokuyama’s Electronic Materials Business Div., is an indispensable raw material for silicon wafers used in semiconductor manufacturing. With the expansion of the semiconductor market and the resulting growth in demand for silicon wafers^*2, demand for semiconductor‑grade polycrystalline silicon is also increasing.
     
4. Against this background, Tokuyama plans to establish a new manufacturing semiconductor-grade polycrystalline silicon facility in Malaysia through a joint venture with a subsidiary of OCI, thereby increasing its production capacity and expanding manufacturing footprint to capture growing demand. In addition, the electricity used for this project is expected to be supplied by green electricity generated from hydropower. Securing a stable supply while minimizing environmental impact will differentiate Tokuyama from its competitors and contribute toward enhancing its international competitiveness.
     
5. The loan will support Tokuyama’s overseas business expansion, thereby contributing toward maintaining and improving the international competitiveness of the Japanese industry. In addition, the company will provide a stable supply of its semiconductor‑grade polycrystalline silicon to Japanese silicon wafer manufacturers. This is expected to strengthen supply chain resilience within Japan’s semiconductor industry. In addition, the loan supports the establishment of a semiconductor materials manufacturing business in Sarawak, this initiative is in line with the policies of the Malaysian government and the Sarawak state government, both of which have identified the semiconductor sector as a priority area.
     
6. As Japan’s policy-based financial institution, JBIC will continue to provide financial support to assist Japanese companies in the overseas expansion of their businesses by drawing on its various financial facilities and schemes for structuring projects and by performing its risk-assuming function.
     

Note

1. *1 
   The loan agreement was signed on April 28, 2026.
2. *2 
   “Silicon wafers” refer to thin, disk‑shaped substrate materials made from polycrystalline silicon that are used in the manufacture of semiconductor devices.