Japan’s Sojitz Corporation plans to buy 5 percent of Masan High-Tech Materials (UPCoM: MSR) from Masan Horizon, a subsidiary of Vietnamese conglomerate Masan Group.

In a statement on Monday, Masan said Masan and Sojitz have signed a memorandum of understanding. The stake will be sold at a price not lower than the price Elmet set in September, at $125 million for a 5 percent stake.

The memorandum also provides for long-term commercial agreements under which Sojitz would distribute MSR’s tungsten and fluorite products in Japan. Sojitz can would the Japanese market for MSR’s tungsten products, targeting customers in semiconductors, artificial intelligence (AI) infrastructure, aerospace, energy, automotive, cemented carbide, and chemicals.

Masan said the Sojitz agreement is the second step in an expansion of MSR’s shareholder base, approved by Masan Group’s board on September 24, 2026. The program aims to strengthen long-term ties with customers and industries that recognise MSR’s product quality. It also aims to attract strategic and institutional investors with long-term investment goals of MSR.

The parties aim to sign definitive agreements before the end of 2026, subject to procedures.

MSR owns the Nui Phao mine and a tungsten processing complex in Thai Nguyen province, northern Vietnam. It accounts for nearly all of Vietnam’s current tungsten output.

Masan High-Tech Materials reported strong results for the first nine months of 2026. Its revenue reached VND25,687 billion ($977 million), up 409 percent, and EBITDA reached VND6,632 billion, up 353 percent. Post-tax profit before minority interests was VND4,350 billion, compared with a loss of VND211 billion a year earlier.

Backed by $450M Pentagon deal, US’ Elmet acquires 5% in Vietnam’s tungsten producer MSR