Sumitomo Metal Mining Transfers All Stocks of IZO Business

Sumitomo Metal Mining announced on Thursday the firm transferred all stocks, which the firm held in IS Electrode Materials (ISEM), to Idemitsu Kosan, the other shareholder in ISEM, on 1 October. ISEM was established in April 2005 to produce and sell indium-zinc-oxide (IZO) target materials 51% controlled by Idemitsu Kosan and 49% by Sumitomo Metal Mining. IZO was developed by Idemitsu Kosan as a transparent electrode material for flat panel displays. ISEM entrusted IZO production to Sumitomo Metal Mining.The mainstream material for transparent electrode of flat panel displays is indium-tin-oxide (ITO). Sumitomo Metal Mining aims to focus management capitals into its own ITO business and other transparent electrode materials such for solar cells and touch panels. Sumitomo Metal Mining keeps cooperative relationship with Idemitsu Kosan and continues entrusted IZO production and indium recycling after the stock transfer.