Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
© dimitry romanchuck dreamstime.com Components | March 20, 2013

Renesas makes transfer to J-Devices

Renesas Electronics and J-Devices Corporation signed a definitive agreement to transfer Renesas subsidiaries' back-end facilities and others to J-Devices
This follows a Memorandum of Understanding which was announced on January 30, 2013.

In this transfer, Renesas defines its wholly owned subsidiaries, Renesas Northern Japan Semiconductor, Inc. (“Renesas Northern Japan”), Renesas Kansai Semiconductor Co., Ltd. (“SKS”), Renesas Kyushu Semiconductor Corp. (“Renesas Kyushu”) and Renesas Northern Japan's wholly owned subsidiary, Hokkai Electronics Co., Ltd. (“Hokkai Electronics”) as “splitting companies in absorption-type split”.

Through an absorption-type corporate split Renesas will transfer assets, debts, other rights and obligations related to partial back-end production business of the splitting companies in absorption-type split (back-end production business of the Hakodate Factory of Renesas Northern Japan and the Fukui Factory of SKS, back-end production business and contract manufacturing service of the Kumamoto Factory of Renesas Kyushu, and production support business of Hokkai Electronics to a wholly owned subsidiary that Renesas will newly establish.

Then Renesas will transfer all issued shares of the subsidiary to J-Devices.

The DA aims at building a long-term, mutually beneficial relationship between Renesas and J-Devices as strategic partners in the semiconductor production business. With today's agreement as the basis, the two companies intend to complete the transfer on June 1, 2013.

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Ad
Ad
Load more news
November 14 2017 8:30 PM V8.8.9-1