Kurita Membrane India Private Limited Established Jointly with Membrane Group India to Specialize in India's Semiconductor Industry

Kurita Industries, Ltd. (Head Office: Nakano-ku, Tokyo; President: Hirohiko Ejiri; hereinafter "Kurita") has jointly established Kurita Membrane India Private Limited (hereinafter "the JV"), a company specializing in water treatment solutions for the electronics industry, primarily semiconductors, in the Republic of India (hereinafter "India"), with Membrane Group India Private Limited (Head Office: Gurugram, Haryana, India; Chairman: M M Narang; hereinafter "Membrane Group"), which develops businesses related to the design, manufacture, installation, and service of water treatment equipment in India. The JV has commenced operations.

Against the backdrop of further increasing semiconductor demand due to the rapid spread of generative AI, and the global trend of expanding and diversifying production bases to respond quickly and steadily to these demands, investments by domestic and foreign semiconductor-related companies are rapidly expanding in India, supported by the government's proactive corporate attraction policies. In line with these trends, the Indian semiconductor market size is projected to exceed 64 billion dollars in 2026 from 15 billion dollars in 2020 (*1), and reach 110 billion dollars in 2030. Furthermore, a 10-year roadmap published in May 2026 by the government think tank NITI Aayog (National Institution for Transforming India) sets a goal of building a semiconductor value chain worth 120 to 150 billion US dollars by 2035 (*2).

The Kurita Group deploys diverse water treatment solutions tailored to customer needs and regional characteristics, from the production and supply of ultrapure water essential for manufacturing processes in the electronics industry, including semiconductors, to the recovery and reuse of wastewater, in Japan, East Asia, North America, and Europe. In line with the policy of aiming for further growth in the electronics industry, a key focus area in our Medium-Term Management Plan (PSV-27 Plan) through fiscal 2027, we have agreed to jointly establish a business company for the electronics industry with Membrane Group, which has extensive experience and achievements in the water and wastewater treatment fields in India, strong capabilities in engineering, manufacturing, project execution, commissioning, and lifecycle services, as well as long-standing relationships with various corporate customers, in order to steadily capture business opportunities in the rapidly growing Indian market.

The JV will provide advanced water treatment, wastewater recovery, resource recovery, analysis services, and environmental solutions to India's electronics industry, including semiconductors. By leveraging Membrane Group's knowledge, achievements, and network in India's water treatment business, along with Kurita's water treatment technologies, products, and services proven in major regions including Japan, and adding value through pricing tailored to the local market and environmental considerations, the JV aims to become an indispensable partner for India's electronics industry. Furthermore, together with Kurita AquaChemie India Private Limited (*3), which will promote the sale of water treatment chemicals from 2024, the JV will further enhance Kurita's recognition and strengthen its business foundation in India.

Details of the JV are as follows:

Kurita Membrane India Overview

Company Name

Kurita Membrane India Private Limited

Head Office Location

Gurugram, Haryana, Republic of India

Date of Establishment

April 11, 2026

Capital

INR 348,840,000 (*4) (approx. 600 million JPY)

Shareholders (*4)

Kurita Industries, Ltd. 51%

Membrane Group India Private Limited 49%

Business Description

Design, engineering, manufacturing, sales, installation, commissioning, and maintenance of water and wastewater treatment equipment, ultrapure water systems, wastewater recovery, and resource recovery solutions, as well as water analysis services.

The Kurita Group will contribute to further enhancing corporate value and realizing a sustainable society by expanding growth opportunities through strengthening its global business base and creating and providing diverse solutions that address social issues in the water and environment fields.

Notes:)

*1: Refer to the Japan External Trade Organization (JETRO) regional analysis report dated December 3, 2024, "Transforming Global Semiconductor Ecosystem - Can India's Long-Held Ambition Be Realized as a Major Semiconductor Production Hub?"

*2: Refer to NITI Aayog's "Future of India's Semiconductor Industry" published in May 2026. *English document.

*3: Refer to our company's news release dated June 17, 2024, "Establishment of a Local Subsidiary for Water Treatment Chemical Sales in India."

*4: Information as of the completion of a capital increase scheduled for August of this year (2026).

<Reference URLs>

Membrane Group India Homepage *English only

Medium-Term Management Plan | Kurita Industries | Kurita Group