Kurita And Membrane Group India Establish Kurita Membrane India Pvt. Ltd., A Joint Venture To Cater To The Semiconductor Industry In India

Kurita Industries Ltd., (Head office: Nakano-ku, Tokyo, President: Hirohiko Ejiri, hereinafter: “Kurita” ) has established a joint venture, Kurita Membrane India Private Limited (hereinafter the “JV”) and started its business, specializing in water treatment solutions for electronics industry, primarily semiconductor sector, in India, together with Membrane Group India Private Limited (Head office: Gurugram, Haryana, India, Chairman: M M Narang, hereinafter “Membrane Group”), which operates in the design, manufacture, installation and servicing of water treatment equipment in the country.

Amid the rapidly expanding demands for semiconductors, driven largely by the rapid growth of generative AI, and the global trend of expanding and diversifying production locations to swiftly and effectively meet such demand, India has also seen a rapid increase in investment from both domestic and international semiconductor-related companies, owing to the government’s proactive policies to attract the industries. In line with these developments, the size of India’s semiconductor market is forecasted to rise from an estimated USD 15 billion in 2020 to over USD 64 billion by 2026 and reach USD 110 billion by 2030^(*1). Furthermore, the 10-year roadmap published by the government-affiliated think tank NITI Aayog (National Institution for Transforming India) in May 2026 sets a target of establishing a semiconductor value chain worth between USD 120 billion and USD 150 billion by 2035^(*2).

Kurita provides a diverse range of water treatment solutions for the electronics industry, including semiconductors, in Japan, East Asia, North America, and Europe, which is essential for their manufacturing processes, such as the production and supply of ultrapure water to recovery and reuse of wastewater, meeting customer needs and regional characteristics. In line with the policy aimed at further growth in the electronics industry, which is a high priority under our medium-term management plan “Pioneering Shared Value 2027 (PSV-27)” until fiscal 2027, we need to secure business opportunities consistently in the rapidly growing Indian market. In light of this situation, Kurita has agreed to establish the JV with Membrane Group, which has a proven track record in the water and wastewater treatment sector in India, with strong engineering, manufacturing, project execution, commissioning and lifecycle service capabilities, as well as long-standing relations with industrial customers.

The JV will provide advanced water treatment, wastewater recycling, resource recovery, water analysis service, and environmental solutions to the electronics sector, including semiconductor, in India. Combining Membrane Group’s expertise, track record, with Kurita’s water treatment technologies, products, and Kurita’s technologies, products, and services, which have a proven track record in key regions, including Japan, and adding value through pricing suited to the local market and environmental consideration, the JV aims to become an “indispensable partner” for them. Furthermore, together with the joint venture and Kurita AquaChemie India Private Limited^(*3), which commenced sales of water treatment chemicals in 2024, we will strive to raise Kurita’s profile in India and further strengthen our business foundation.

Please refer to the following for the outline of the JV.

Outline of the JV

• Company Name: Kurita Membrane India Private Limited
• Head office: Gurugram, Haryana, Republic of India
• Establishment: April 11, 2026
• Capital: INR 348,840,000 (*4) (approximately JPY 600 million)
• Shareholders^(*4): Kurita Water Industries Ltd. (51%), Membrane Group India Private Limited (49%)
• Business: Design, engineering, manufacture, sale, installation, commissioning, and maintenance of water and wastewater treatment systems, ultrapure water systems, water recycling, and resource recovery solutions, as well as water analysis services, etc.

The Kurita Group will contribute to the further enhancement of corporate value and the realisation of a sustainable society by expanding growth opportunities through the strengthening of its global business foundation, and by creating and providing diverse solutions that contribute to resolving social challenges in the water and environmental sectors.

^*1 Japan External Trade Organization (JETRO) Regional Analysis Report published on December 3, 2024: The Changing Global Semiconductor Ecosystem–Will India’s Long-Held Ambition to Become a Major Semiconductor Production Hub Be Realized? *Japanese- language only

^*2 NITI Aayog ‘Future of India’s Semiconductor Industry’ in May 2026.

^*3 News release on June 17, 2024: Establishment of a Local Subsidiary for the Sale of Water Treatment Chemicals in India.

^*4 Information as at the time of completion of the capital increase, which is tentatively scheduled in August, 2026.