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JX Advanced Metals to Invest 120 Billion Yen to Boost InP Substrates Production; Shares Jump 19%

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JX Advanced Metals (TYO:5016) plans to invest a total of 120 billion yen by fiscal 2030 to boost the production capacity for indium phosphide (InP) substrates, the company said in a Tuesday release.

InP substrates are crystal materials used in optical transceivers that are crucial for large-volume data transmission.

The company plans to fund the investment with proceeds from previously issued convertible bonds with stock acquisition rights, which would exclude funds allocated for the tender offer of its own shares, the release said.

Shares of the high-tech materials and semiconductor supply chain specialist surged nearly 19% in recent trade.

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