UMC receives final approval for acquisition of Mie Fujitsu Semiconductor

In 2014, FSL and UMC agreed for UMC to acquire a 15.9% stake in MIFS from FSL through progressive phases. FSL is now cleared to transfer the remaining 84.1% of its shares in MIFS to UMC, with a final transaction value to acquire the remaining shares totalling JPN 54.4 billion (USD 504.7 million). As a wholly-owned subsidiary of the Taiwan-based foundry, MIFS will be renamed as United Semiconductor Japan Co., Ltd. (USJC). The completion of the acquisition is scheduled for October 1, 2019. Jason Wang, co-president of UMC, said, “This win-win acquisition will create synergies through the integration of USJC’s world-class production quality standards and employees with UMC's decades of manufacturing experience, economy of scale and foundry expertise to provide enhanced support for new and existing Japanese customers. Meanwhile, UMC’s global customers will gain access to a volume production 300mm fab in Japan.” Co-president Wang continued, “The addition of USJC also complements UMC’s strategy of developing a diversified 300mm manufacturing capability across Asia. Going forward, we will continue to stay focused on our strength in Specialty Technologies and explore growth opportunities in line with this strategy through the evaluation of both internal and external capacity expansion opportunities.”