Toppan spins out its semiconductor mask business ahead of an IPO

Toppan spins out its semiconductor mask business ahead of an IPO

Business news |
By Nick Flaherty

Japanese printing conglomerate Toppan is spinning out its semiconductor photomask business into a joint venture prior to a stock market listing

Toppan Photomask has been set up with Japanese private equity firm Integral as an investment partner, and says it is the only mask maker with sites in Europe, the US and Asia.

The company manufactures masks in Dresden, Germany and Corbeil, France, as well as Asaka, Shiga (Japan), Round Rock (USA), Shanghai (China), Icheon (South Korea) and Taoyuan (Taiwan). R&D is in Dresden and Asaka.

The rapid growth of the semiconductor market is driving the photomask market to a turning point, requiring manufacturers to make investments in R&D and equipment faster and more flexibly than ever before.

This led to Toppan re-evaluating the investment needed in mask making. It highlights that Integral, which owns 49.9% of the joint venture company, has an extensive track record of supporting IPOs to boost growth ahead of a future stock market listing.

“We are very excited to be making a new start that will drive greater efficiency and provide even better service in an extremely dynamic market. An IPO will be one milestone for us in the future as we look to support the long-term growth of the semiconductor sector in collaboration with our customers in a constantly changing landscape,” said Teruo Ninomiya, CEO of Toppan Photomask.

“We will bring together the expertise and excellence of our people throughout the world to drive continuous improvement and create new value as our customers’ first-choice partner by leveraging strengths in technological development and teamwork as well as the outstanding quality, cost, and delivery enabled by our global manufacturing network.”

In its semiconductor-related business, Toppan will also strengthen FC-BGA substrate offerings, which are seeing robust demand, and develop and provide components and devices for growth fields such as healthcare, mobility, communication, and sensors.

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