Japan-based Taiheiyo Cement has announced the sale of its entire 88.51 per cent stake in Jiangnan-Onoda Midoro, its former cement manufacturing and sales subsidiary in China.
The stake will be sold to Nanjing Yida Vertical and Horizontal Building Materials for CNY60m (US$8.68m, JPY1.34bn), with completion expected in March 2026. The remaining 11.49 per cent stake in the company is held by Nanjing Chemical Industry (Group).
Jiangnan-Onoda Midoro has not conducted cement manufacturing or sales activities since 2023. Taiheiyo Cement had previously initiated procedures to withdraw from the business through dissolution and liquidation but opted to proceed with the share sale following an acquisition proposal from Nanjing Yida.
The company said proceeds from the transaction will be redirected towards investment in growth sectors, as part of its broader strategic repositioning.
The move reflects the continued rationalisation of Japanese cement producers’ operations in China, where market conditions have weakened in recent years.
