Under the deal, Sojitz plans to acquire the stake from Masan Horizon, a wholly owned subsidiary of Masan Group, at a price no lower than that paid by US strategic investor Elmet for its investment in MSR.

Sojitz will also enter into long-term commercial agreements to distribute MSR's tungsten and fluorspar products in Japan, targeting customers in the semiconductor, artificial intelligence (AI) infrastructure, aerospace, energy, automotive, hard metals and chemical industries.

The partnership is expected to strengthen MSR's presence in Japan while complementing its existing cooperation with Elmet in the United States, which completed its investment on October 1.

The parties aim to sign definitive agreements before the end of 2026, following the completion of due diligence and the necessary approval procedures.

MSR is among a limited number of global tungsten producers whose products meet the supply standards required by customers in the US, Japan, the Republic of Korea (RoK) and Europe.

Its operations are supported by the Nui Phao mine and a refining facility in Thai Nguyen province, producing tungsten and fluorspar materials for advanced semiconductor manufacturing, precision engineering and other high-tech applications.

The partnership forms part of MSR's strategy to attract long-term strategic investors and strengthen its international distribution network ahead of a planned listing on the Ho Chi Minh Stock Exchange (HOSE), with an application targeted for 2027.

Masan Group will retain a controlling stake in MSR. In the first nine months of 2026, MSR recorded net revenue of VND25.687 trillion (approximately US$1 billion) and net profit after tax before minority interests of VND4.35 trillion (US$170 million), equivalent to approximately 170% of the upper end of its full-year profit target.

Source: VOV

https://english.vov.vn/en/economy/masan-partners-with-sojitz-to-expand-vietnamese-tungsten-exports-post1348656.vov