Electronics Production | October 10, 2007
Arrow found Japanese Unit & Acquires UEC
Arrow Electronics, Inc., today announced that it has established a Japanese subsidiary to conduct business for the first time in Japan.
The subsidiary, Arrow Electronics Japan, GK (Arrow Japan), has acquired all of the share capital of Universe Electron Corporation (UEC), a Tokyo-based distributor of semiconductor and multimedia products to major Japanese manufacturers and firms, which will change its name to Arrow UEC Japan, KK following the acquisition. Arrow Japan will primarily focus on leveraging Arrow's broad linecard and expanding the company's partnerships with small- and medium-sized customers in the region. Arrow's new subsidiary will further develop marketing relationships with existing customers as well as identify new growth opportunities. "The creation of Arrow Japan will allow us to strategically expand our components business into this significant $60Bn marketplace. With this transaction, we now have a solid foundation which we will use as a platform to grow our presence in this important region," said William E. Mitchell, chairman, president, and chief executive officer of Arrow Electronics, Inc. Masaharu Shinya, chairman of UEC, will become chairman of Arrow Japan on November 1st. In 1998, Arrow formed a joint venture with Marubun Corporation to serve Japanese customers who need support outside of Japan. Marubun and Arrow will continue as partners in the Marubun-Arrow joint venture and will continue to explore other joint activities following the launch of Arrow Japan.