Transfer of Partial Stake in Malaysian Subsidiary
Growing Expectations for Synergy with Toyota Group
Collaboration in Next-Generation Battery Development
SK Nexilis, an SKC subsidiary specializing in copper foil for secondary batteries, has successfully secured an investment of approximately 150 billion KRW from Japan's Toyota Tsusho.
Park Wonchul, President of SKC (right), is taking a commemorative photo with Toshimitsu Imai, President of Toyota Tsusho. Photo by SKC
On June 18, SKC announced that it held an investment agreement ceremony at its headquarters in Jung-gu, Seoul, where it transferred a portion of shares in SK Nexilis's Malaysian subsidiary to Toyota Tsusho and secured an investment worth about 110 million USD (approximately 150 billion KRW). Toyota Tsusho, a major Japanese trading company, is engaged in sourcing materials and components for a wide range of products, including automobiles, and possesses a global logistics network.
This investment is expected to further solidify the strategic partnership between the two companies. Through collaboration with Toyota Tsusho, SK Nexilis is securing a stable operational foundation for its Malaysian plant and is also cooperating to acquire additional customers.
In particular, Toyota Tsusho is building a large-scale battery plant in the United States together with Toyota Motor Corporation, and is reportedly looking forward to broadening its cooperation with SK Nexilis in the future. Synergies are also anticipated through joint marketing initiatives based on Toyota Tsusho's business network. Toyota Tsusho, in turn, will be able to establish a robust supply plan for copper foil, a key battery material.
The two companies have also agreed to cooperate in the supply of core raw materials. Based on Toyota Tsusho's capabilities in sourcing key raw materials for secondary batteries, SK Nexilis expects to secure a stable supply of copper foil raw materials. Additionally, leveraging SK Nexilis's next-generation current collector development capabilities, the two companies plan to collaborate on next-generation battery development efforts in the future.
With this cooperation, SK Nexilis will further accelerate the stabilization of its global production bases this year. The Malaysian plant is ensuring mid- to long-term supply stability through long-term contracts with major customers, while the Polish plant is establishing a system that can respond immediately to the recovery of European demand.
An SK Nexilis representative stated, "The strategic collaboration between SK Nexilis, which possesses the world's best copper foil manufacturing technology, and Toyota Tsusho, which has strong raw material distribution capabilities, will serve as a driving force to enhance both companies' competitiveness in the global electric vehicle market. As the importance of economic cooperation between Korea and Japan continues to grow, we hope that this investment agreement will mark the beginning of a sustainable partnership based on trust."
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