| (1) | Share each production base's unique manufacturing technologies and skills, and further raise product quality |
| (2) | Make employees more versatile across production bases and equipment, and create a production system capable of immediately responding to fluctuations in demand |
| (3) | Quickly establish leading-edge manufacturing technologies at production hubs to mass produce next-generation devices such as Silicon Carbide (SiC) power semiconductors |
News Release
February 5, 2010 Fuji Electric Holdings Co., Ltd.
Merger of Fuji Electric Group Power Semiconductor Manufacturing Subsidiaries
Fuji Electric Holdings Co., Ltd. (President: Haruo Ito; Headquarters: Shinagawa-ku, Tokyo) announced today that Fuji Electric Systems Co., Ltd. (President: Mitsunori Shirakura; Headquarters: Shinagawa-ku, Tokyo), a company positioned under its core business umbrella, has decided to establish a new company to manufacture power semiconductors as part of corporate restructuring by merging the following three consolidated subsidiaries effective April 1, 2010: Omachi Fuji Co., Ltd. (President: Akira Nagata; Headquarters: Omachi-shi, Nagano Prefecture), Hokuriku Fuji Co., Ltd. (President: Koji Abe; Headquarters: Namerikawa-shi, Toyama Prefecture), and Iiyama Fuji Co., Ltd. (President: Kazuo Fujioka; Headquarters: Iiyama-shi, Nagano Prefecture).
1. Overview of the merger
The Fuji Electric Group considers power supplies and industrial plant engineering as basic segments for its power semiconductor business. At the same time, it is focusing on the automotive field, including hybrid and electric vehicles as well as car electronics, and the new-energy field as priority areas, as the global market is expected to expand in these areas. Accordingly, the Group is working to reform its business portfolio and restructure its global manufacturing system for optimal production.
In this context, the Fuji Electric Group has been reorganizing its post-process production hubs since last year, accelerating its shift to overseas production bases in the Philippines and Malaysia to manufacture semiconductors for the power supplies and industrial plant engineering segments, as a means to reduce costs and manage foreign exchange risks.
This merger of three manufacturing subsidiaries in Japan is intended to speed up management decision-making and create a production system capable of manufacturing a wide-range of high-quality products in limited quantities to promptly meet customers' expectations.
Objectives of the merger:
2. Summary of the merger
| (1) | Planned effective date of merger |
| April 1, 2010 (Thursday) | |
| (2) | Method of merger |
| Through this merger, Omachi Fuji Co., Ltd. will be absorbed while Hokuriku Fuji Co., Ltd. and Iiyama Fuji Co., Ltd. will be dissolved. |
3. Overview of companies to be merged
Name |
Omachi Fuji Co., Ltd. (surviving company) |
Hokuriku Fuji Co., Ltd. (to be dissolved) |
Iiyama Fuji Co., Ltd. (to be dissolved) |
Main business |
Manufacture of semiconductor devices |
Manufacture of semiconductor devices |
Manufacture of semiconductor devices |
Date of establishment |
June 1970 |
September 1969 |
November 1973 |
Location of head office |
Omachi-shi, Nagano Prefecture |
Namerikawa-shi, Toyama Prefecture |
Iiyama-shi, Nagano Prefecture |
Title and name of representative |
President and Representative Director Akira Nagata |
President and Representative Director Koji Abe |
President and Representative Director Kazuo Fujioka |
Capital |
300 million yen |
98 million yen |
40 million yen |
Sales |
Approx. 16 billion yen |
Approx. 9 billion yen |
Approx. 5 billion yen |
Number of employees |
Approx. 240 |
Approx. 300 |
Approx. 180 |
4. Overview of the new company
Name |
Undetermined * |
Main business |
Manufacture of semiconductor devices |
Location of head office |
Matsumoto-shi, Nagano Prefecture |
Title and name of representative |
Undetermined |
Capital |
300 million yen |
Projected sales |
Approx. 30 billion yen |
