KJCC was jointly funded by KIBV and Yizhou Group and has a tar processing capacity of 300,000 tons per year.
Fangda Carbon planned to invest US$50 million to acquire 46.23% of KJCC's shares in order to meet the production needs of needle coke required by the company's subsidiary Fangda Xikemo. And, New Japan Coal Chemical Company (NJC), a subsidiary of Nippon Steel, would spend US$57 million to acquire 53.27% of KJCC.
This investment plan would save the Fangda Carbon's time and capital costs, and ensuring the supply of high-end raw materials for the company's electrode plant, thereby extending the product chain upstream.
Old people will account for 30.0 percent of the Japanese population in 2025 and reach 35.3 percent in 2040, according to forecast by the National Institute of Population and Social Security Research.
A recent report by the Organization for Economic Cooperation and Development (OECD) said that Japan's population aged 50 or older who are jobless could increase 29 percent to reach 59 per 100 workers in the country by 2050.
According to the study, the jobless situation in Japan's older population would strain public retirement schemes.