A suspension contains a base material including a fine solid matter. The base material may be in the form of a semifluid matter. The base material is compressed with a high pressure. The compressed base material is passed through an orifice at a high speed. The orifice includes a small clearance defined between (a) the end of the movable valve provided slidably and rotatably in the length direction inside of the cylinder case and (b) the opposing wall surface of the cylinder case. For dispersion, emulsification, crushing, and subdivision of the base material, there is provided a heat exchange unit including continuous conduits through which a cooling medium can flow, the conduits extending over a desired length in the length direction about the orifice as a source of heat.
