IWATA Japan, a global leader in the chemical and materials industry, has announced its acquisition of EQX Materials Sdn Bhd, marking a significant step in its global expansion strategy. The company will now operate as EQX Iwata Sdn Bhd, a key subsidiary within the Iwata Group.
The official acquisition ceremony, held at E&O Hotel today, witnessed notable attendees, including InvestPenang chief executive officer Datuk Loo Lee Lian, who represented Chief Minister Chow Kon Yeow.
In her speech, Loo congratulated the leadership teams of both companies for their vision and collaboration.
“Today’s acquisition is a testament to the commitment of Iwata Japan and EQX Materials in sharing technological expertise, expanding global outreach, and enhancing service quality,” Loo said.
“The state of Penang continues to provide a conducive ecosystem for industrial players to thrive. I am confident that the newly formed EQX Iwata will be able to reap the rewards of operating in Penang, the Silicon Valley of the East,”
She highlighted Penang’s status as a hub for advanced and high-value manufacturing, supported by over 350 multinational corporations (MNCs) and 4,000 small and medium enterprises (SMEs).
Loo also underscored the Penang government’s recent launch of the “Penang Silicon Design @5km+” initiative, which aims to create a comprehensive hub for integrated circuit (IC) design innovation within a 5km radius in Bayan Lepas. Prime Minister Datuk Seri Anwar Ibrahim is set to officiate the initiative on Dec 7, which will include the opening of GBS TechSpace as the Silicon Research & Incubation Space.
Also present were Kuroke Kosuke, deputy consul-general of Japan in Penang; Muhammad Ghaddaffi Sardar Mohamed, director of Malaysian Investment Development Authority (Mida); Dr Takuya Iwata, president of Iwata Japan; Akito Mitsui, managing director of EQX Iwata Sdn Bhd; Roland Choong, former managing director of EQX Materials Sdn Bhd; Geraldine Khoo, executive director of EQX Iwata; and Raymond Kon, general manager of EQX Iwata.
Headquartered in Nagoya, Japan, Iwata has been a global leader in the chemical and materials industry since its establishment in 1902. EQX Materials, founded over 20 years ago with a strong foundation in technical solutions and supply chain services, has been a trusted partner to high-tech industries.
Dr Iwata expressed his gratitude to all stakeholders involved in the acquisition, especially EQX Materials’ former managing director, Roland Choong, for his instrumental role in establishing a solid foundation.
“This acquisition marks a pivotal step in expanding Iwata Japan’s influence across Southeast Asia and Asia. It enhances our ability to deliver innovative solutions in high-demand sectors such as electronics, semiconductors, and automotive industries,” Dr Iwata said.
EQX Iwata’s product portfolio includes advanced materials, engineering solutions, and supply chain management, specialising in precision applications like adhesives, thermal management materials, and high-performance elastomers.
Mitsui also expressed gratitude to Choong for his leadership in shaping EQX Materials into what it is today, crediting him for laying the groundwork for the company’s future growth.
“As we embark on this new chapter, EQX Iwata remains committed to upholding and building upon this remarkable foundation. Penang has been more than a business location for EQX. It has been a home for innovation, a hub for strategic partnerships, and a source of talented professionals.
“The support from Invest Penang and MIDA has been instrumental in facilitating this transition. Malaysia’s robust industrial ecosystem and pro-business policies make it a key destination for foreign direct investment, and we are proud to contribute to this thriving economy,” Mitsui said.
Muhammad Ghaddaffi noted the acquisition of EQX Materials by Iwata Japan highlighted Penang’s ability to attract world-class investments.
“Mida is committed to fostering an environment where business can succeed. Iwata Japan’s journey here is an inspiration of what we can achieve when business and governments work hand in hand.
Kosuke extended his best wishes to EQX Iwata and also thanked the federal and state governments, InvestPenang, and Mida for their support of Japanese companies.
Reflecting on EQX Materials’ origins, Choong explained the company’s decision to establish itself in Penang, citing himself as a Penangite and Penang’s strategic advantages, including its talent pool, efficient logistics, and investment-friendly policies.
“Iwata Japan has a good reputation, long history and strong legacy. When they approached us for the acquisition, we had mixed feelings. The people and business were dear to us, but we saw the immense potential that Iwata Japan could bring to EQX Materials,” said Choong, who also wished the new company every success.
Story by K.H. Ong
Pix by Darwina Mohd Daud