TDK and Renesas Electronics Sign Basic Agreement on Transfer of Renesas Electronics Subsidiary’s Tsuruoka Factory
November 30 2015 - 01:00AM
Business Wire
TDK Corporation (“TDK”, TSE: 6762), Renesas Electronics
Corporation (“Renesas Electronics”, TSE: 6723), and Renesas
Semiconductor Manufacturing Co., Ltd. (“Renesas Semiconductor
Manufacturing”), a wholly owned subsidiary of Renesas Electronics,
today announced that they signed a basic agreement on November 27,
2015 under which Renesas Semiconductor Manufacturing’s Tsuruoka
Factory will be transferred to TDK. The three companies target to
conclude a definitive agreement on the transfer by the end of
February 2016, and are currently negotiating the details, including
the handover date and the transfer (reemployment) of personnel
currently employed at the Tsuruoka Factory.
In the news release “Renesas Electronics Shows Direction of
Renesas Group,” announced on August 2, 2013, Renesas Electronics
indicated its intentions for the Tsuruoka Factory (then the 5-inch
front-end wafer fabrication line of Renesas Yamagata Semiconductor
Co., Ltd’s Tsuruoka Higashi Factory) as “planned to be closed in 2
or 3 years,” and plans were proceeding to close the factory by the
end of the current fiscal year.
TDK, for its part, has identified the electronic components
business based on magnetic materials technology as a core business.
It considers its three priority markets to be the ICT market, which
encompasses products such as smartphones that continue to be
increasingly popular worldwide; the automotive market, which
includes hybrid vehicles and electric vehicles; and the industrial
equipment/energy market, which covers applications such as wind
power generation and solar power generation. TDK is intensely
focused on efforts to expand these businesses and their
profitability through a concentration on the electronic components
business targeted at these three markets. To assure future growth,
TDK is working to take thin-film technology built up over many
years for the manufacture of magnetic heads for hard disk drives
and extend it laterally into electronic components. In order to
respond in a timely manner to the vigorous demand of thin-film
components that demonstrate the company’s strengths centering the
three priority markets, TDK decided to acquire Renesas
Semiconductor Manufacturing’s Tsuruoka Factory.
TDK approached Renesas and Renesas Semiconductor Manufacturing
in early October of this year with a view toward acquiring the
Tsuruoka Factory. The three parties were able to come to a meeting
of minds, and as a result, a basic agreement regarding transfer of
the Tsuruoka Factory was concluded. Negotiations on detailed
conditions will continue with the aim of concluding a definitive
agreement at a future date.
Overview of Tsuruoka Factory
Name
: Renesas Semiconductor Manufacturing Co.,
Ltd., Tsuruoka Factory
Address
: 1-14-38 Takarada, Tsuruoka, Yamagata
Pref. 997-8523
Established
: June 22, 1964
Representative
: Toshihide Kobayashi (Vice President)
Major operations
: Manufacture of system LSIs, ICs,
transistors, etc.
Employees
: Approx. 270
About TDK Corporation
TDK Corporation is a leading electronics company based in Tokyo,
Japan. It was established in 1935 to commercialize ferrite, a key
material in electronic and magnetic products. TDK's portfolio
includes electronic components, modules and systems* marketed under
the product brands TDK and EPCOS, power supplies, magnetic
application products as well as energy devices, flash memory
application devices, and others. TDK focuses on demanding markets
in the areas of information and communication technology and
consumer, automotive and industrial electronics. The company has a
network of design and manufacturing locations and sales offices in
Asia, Europe, and in North and South America. In fiscal 2015, TDK
posted total sales of USD 9.0 billion and employed about 88,000
people worldwide.
More information can be found at www.global.tdk.com
* The product portfolio includes ceramic, aluminum electrolytic
and film capacitors, ferrites, inductors, high-frequency components
such as surface acoustic wave (SAW) filter products and modules,
piezo and protection components, and sensors.
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723), the world's number
one supplier of microcontrollers, is a premiere supplier of
advanced semiconductor solutions including microcontrollers, SoC
solutions and a broad-range of analog and power devices. Business
operations began as Renesas Electronics in April 2010 through the
integration of NEC Electronics Corporation (TSE: 6723) and Renesas
Technology Corp., with operations spanning research, development,
design and manufacturing for a wide range of applications.
Headquartered in Japan, Renesas Electronics has subsidiaries in 20
countries worldwide. More information can be found at
www.renesas.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20151129005053/en/
TDK CorporationSumio Marukawa,
+81-3-6852-7102pr@jp.tdk.comorRenesas Electronics CorporationKyoko
Okamoto, +81-3-6773-3001pr@renesas.com