Tokuyama Corporation, a Japanese chemical powerhouse, and OCI TerraSus have established a 50:50 joint venture in Malaysia. The new company, OCI Tokuyama Semiconductor Materials Sdn. Bhd. (OTSM) was formed in Sarawak. OTSM will produce and sell semiconductor-grade polycrystalline silicon semi-finished products. The joint venture had a capital investment of MYR 922 million (~ $218 million). A groundbreaking ceremonytook place on July 16, 2025, attended by Sarawak officials. Tokuyama aimed to meet rising semiconductor demand using clean energy to lower greenhouse gas emissions. OCI TerraSus, the Malaysian arm of South Korea’s OCI Group, partnered in the venture. Sung Kil Choi was named CEO of the new company. The joint venture was set up as an equity-method affiliate.