TOKYO, May 12 (Pulse News Wire) – ULVAC, Inc. (6728.T) resolved at its board meeting held , to enter into a Master Framework Agreement (MFA) with Beijing Fengke Xinchuang Investment Fund Center, Beijing Xinchuang Zhiyao II Venture Capital Fund, and Ningbo Jiangfeng Electronic Materials Co., Ltd.
The agreement outlines the conditions for integrating flat panel display (FPD) target businesses. As part of this integration, ULVAC plans to transfer its stake in its subsidiary, Ai Fa Ke Electronics Material (Suzhou) Co., Ltd., to the newly established joint venture company, Beijing Fengke Jingsheng Electronic Materials Co., Ltd. Beijing Fengke Jingsheng was set up on July 25, 2025, with a capital of 892,000,000 yuan. It will operate FPD sputtering target development, production, and sales. The joint venture's shareholders consist of Beijing Fengke Xinchuang Investment Fund Center holding __NUM_1%, Beijing Xinchuang Zhiyao II Venture Capital Fund holding __NUM_2%, and Ningbo Jiangfeng Electronic Materials Co., Ltd.
Holding __NUM_3%. Ai Fa Ke Electronics Material (Suzhou) Co., Ltd., established on April 9, 2009, specializes in FPD sputtering target development, production, and sales. ULVAC holds __NUM_22% of the shares indirectly in this subsidiary. Following the stake transfer, ULVAC expects to record a special gain of approximately ¥7.800 billion dollars in its consolidated financial statements for the fiscal year ending June 2026. The MFA is scheduled to be finalized on May 16, 2026, with the stake transfer expected to take place in May-June 2026, followed by ULVAC’s investment in the joint venture in June-July 2026.
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