Japanese rare earth magnet giant wants India to not ‘overdo’ production of key component

In the fiscal year ending March 31, 2025, Proterial generated revenue of ¥768.6 billion (approximately $5.2 billion). It currently has two facilities in Japan and China, producing mainly rare earth magnets.

Mint It was reported on August 6 that the Japanese company plans to produce its flagship Neodymium Ferrite Boron (NdFeB) permanent magnets in the country under the NEOMAX brand. Moreover, it has also developed a heavy-duty, rare-earth-free magnet that can power small two-wheeler, three-wheeler and four-wheeler vehicles.