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Oki transfers 95% of semiconductor business to Rohm
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Oki Electric Industry Co., Ltd. has signed a definitive agreement
for the transfer of 95% of OKI’s shares in its new semiconductor
company OKI Semiconductor Co., Ltd. to ROHM. OKI announced the spin-off
of its semiconductor business in May and its plan to transfer the
shares to ROHM. OKI Semiconductor’s capital will be ¥20 billion
(approximately US$185 million) at its official establishment on October
1st, 2008.
"We are pleased to reach and sign the definitive agreement with ROHM,"
said Katsumasa Shinozuka, President and CEO at OKI. "Because the
product overlap between OKI and ROHM is relatively low, we believe by
transferring shares of the new company, the OKI-nurtured semiconductor
business will continue to grow under ROHM and maximize strengths of
both companies."
"We are pleased to reach and sign the definitive agreement with ROHM," said Katsumasa Shinozuka, President and CEO at OKI. "Because the product overlap between OKI and ROHM is relatively low, we believe by transferring shares of the new company, the OKI-nurtured semiconductor business will continue to grow under ROHM and maximize strengths of both companies."