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# Sojitz plans 5% Masan materials stake and Japan distribution deal
- URL: https://www.southeastasiaconnect.com/sojitz-masan-high-tech-materials-japan-distribution-2026/
- Published: 2026-11-10T05:37:53.000Z
- Updated: 2026-11-10T05:37:53.000Z
- Description: The proposed tie-up would give the Vietnamese tungsten producer a Japanese sales partner. Definitive agreements and approvals are still ahead.
- Author: Lars Voedisch
- Tags: News

[Masan Group](https://www.masangroup.com/?ref=southeastasiaconnect.com), [Sojitz](https://www.sojitz.com/en/?ref=southeastasiaconnect.com) and [Masan High-Tech Materials](https://masanhightechmaterials.com/?lang%5Fui=en&ref=southeastasiaconnect.com) have set out a proposed investment and distribution partnership that could expand the Vietnamese producer's route into Japan's industrial materials market.

Under a memorandum of understanding signed on 9 November, Sojitz plans to acquire a 5% stake in Masan High-Tech Materials, known as MSR, from Masan Horizon, a Masan Group subsidiary. The parties also plan long-term agreements for Sojitz to distribute MSR's tungsten and fluorspar products in Japan. [Masan says](https://www.masangroup.com/news/press-releases/sojitz-signs-mou-to-become-a-strategic-shareholder-and-strengthen-msrs-position-in-japan/?ref=southeastasiaconnect.com) they aim to sign definitive agreements by the end of 2026, subject to due diligence and customary approvals.

For MSR, the commercial point is access to a Japanese partner that can take its materials to industrial customers. Tungsten has uses in precision manufacturing and semiconductor supply chains, while fluorspar is used in industrial chemical production. The agreement would link a Vietnam-based producer more closely to Japanese buyers, although the announcement does not establish a new sales volume or guaranteed revenue.

The proposed share purchase is the second step in MSR's strategic shareholder programme. US-based Elmet completed an investment in the company on 1 October. Masan says the Sojitz stake would be priced no lower than Elmet's investment and that Masan Group would remain MSR's controlling shareholder.

The distinction between the memorandum and a completed deal matters to suppliers and investors. Sojitz has not yet acquired the stake, and the distribution agreements have not been finalised. Their terms, customer commitments and delivery volumes will determine how much the proposed Japan channel changes MSR's business.

## Sources

- [Masan Group announcement, 9 November 2026](https://www.masangroup.com/news/press-releases/sojitz-signs-mou-to-become-a-strategic-shareholder-and-strengthen-msrs-position-in-japan/?ref=southeastasiaconnect.com)