DNP and Photronics Complete Incorporation Formalities for Establishment of China-Based Semiconductor Photomask Joint Venture

Dai Nippon Printing Co., Ltd. (DNP) is pleased to announce the completion of incorporation formalities for a joint venture, based on a joint venture agreement for a China-based semiconductor photomask venture concluded between DNP and Photronics Inc. of Brookfield, Conn. (Photronics) on May 16, 2017.

[Joint Venture]

DNP and Photronics jointly established, and now operate, a Taiwan-based semiconductor photomask manufacturing and sales joint venture in 2014. Looking ahead, the global semiconductor market expects significant growth from China, and it is forecast that in 2020 approximately 20% of global production capacity will be accounted for by China.
In order to answer the demands of Chinese semiconductor makers for shorter lead times and stable supply of photomasks, DNP and Photronics plan to expand their China-based photomask business, through localized production. To that end, in May 2017, the partners announced the establishment of a China-based joint venture for the manufacture and sales of semiconductor photomasks.
In this latest development, the necessary formalities for the establishment of a joint venture with Photronics have been completed, and the partners will push ahead with preparations for localized production of photomasks, which are an important tool for semiconductors production.

[Outline of Joint Venture]

Company name

Photronics DNP Mask Corporation Xiamen (PDMCX)


Xiamen City, Fujian Province China


Peter Kirlin

Paid in capital

US$ 24 million

Business contents

China-based manufacture and sales of semiconductor photomasks

Investment ratio

Photronics 50.01%, DNP 49.99%
The new company will be a consolidated subsidiary of Photronics, and an equity method affiliate of DNP

[Looking Ahead]

DNP and Photronics will invest US$ 160 million over the next five years, and construct a new plant in Xiamen City, Fujian Province, planning to launch mass production of photomasks from early 2019. By developing this China-based photomask manufacturing plant the partners aim for the stable supply of photomasks to local semiconductor makers, while also replying to demands for shorter lead times.

* Product prices, specification and service contents mentioned in this news release are current as of the date of publication. They may be changed at any time without notice.

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