TOKYO — (BUSINESS WIRE) — April 28, 2016 — As previously announced in the press release “TDK and Renesas Electronics Sign Basic Agreement on Transfer of Renesas Electronics Subsidiary's Tsuruoka Factory,” dated November 30, 2015, Renesas Electronics Corporation (“Renesas Electronics”, TSE: 6723), and Renesas Semiconductor Manufacturing Co., Ltd. (“Renesas Semiconductor Manufacturing”), a wholly owned subsidiary of Renesas Electronics, have been working with TDK Corporation (“TDK”, TSE: 6762) and TDK Shonai Corporation, a wholly owned subsidiary of TDK, to further agree on terms and conditions of transferring Renesas Semiconductor Manufacturing’s Tsuruoka Factory to TDK, and today they announced that the four companies signed a definitive agreement on April 28, 2016.
Based on the definitive agreement, the parties continue to work cohesively to complete the transaction targeting the end of March 2017.
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 (as of end of October, 2015)|
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.
Renesas Electronics Corporation
Kyoko Okamoto, + 81-3-6756-5555