Press Release
Toko, Inc.
July 28, 2010
Asahi Kasei Toko Power Devices to become a wholly owned subsidiary of AKM
Asahi Kasei Microdevices Corp. (AKM) and Toko, Inc. have reached agreement for AKM to purchase all remaining shares in Asahi Kasei Toko Power Devices Corp. (ATPD) held by Toko on October 1, 2010, making ATPD a wholly owned subsidiary of AKM.
Regarding shipments of ATPD products, which are currently sold through Toko’s sales network, all ATPD products will be sold through AKM’s sales network for shipments beginning on April 1, 2011. This transition of sales channels will be performed in a manner which ensures that any inconvenience for customers is minimized.
Background
AKM established ATPD with the acquisition of Toko’s semiconductor business on April 1, 2009. To ensure the smooth succession of Toko’s customer relationships, AKM and Toko had planned for Toko to hold a 20% stake in ATPD for three years, after which ATPD would become a wholly owned subsidiary of AKM.
As AKM and Toko have now determined that the transition has been completed ahead of schedule, the two parties decided to proceed with the transfer of Toko’s remaining shares in ATPD, making it a wholly owned subsidiary of AKM as of October 1, 2010.
Market development
With ATPD as a wholly owned subsidiary, AKM will enhance the unified management of ATPD’s growing power management semiconductor business with its own world-leading analog/digital mixed-signal LSI business. The new configuration will facilitate AKM’s achievement of higher added value in its products, acceleration of new product development, and the provision of products and services more closely aligned with customer needs as it expands sales on a global basis.
Toko will concentrate its management resources on coils and related business operations, heightening the development of coil products that meet market needs for miniaturization, higher current, and high-speed transmission. Further reinforcing its management foundation, Toko will firmly advance the revitalization of its business operations focused on coils, aggressively expanding its coil product offering.
Corporate Profiles
| Asahi Kasei Toko Power Devices Corp. (ATPD) | |
| President: | Masafumi Imamura |
| Head office: | Tokyo, Japan |
| Paid-in capital: | ¥100 million |
| Shareholding: | AKM – 80%, Toko – 20% |
| (to be 100% owned by AKM as of October 1, 2010) | |
| Main products: | Power management semiconductors |
Asahi Kasei Microdevices Corp. (AKM) |
|
| President: | Hideki Kobori |
| Head office: | Tokyo, Japan |
| Establishment: | October 1, 2003 |
| Paid-in capital: | ¥3 billion (as of March 31, 2010) |
| Shareholding: | 100% by Asahi Kasei Corp. |
| Main products: | Mixed-signal LSIs, magnetic sensors, fine-pattern products |
| Sales:* | ¥142.7 billion (year ended March 31, 2010) |
| Employees:* | 3,797 (as of March 31, 2010) |
* Consolidated figures for the Electronics operating segment of the Asahi Kasei Group, comprising electronic devices operations, performed by AKM, and electronic materials operations, performed by Asahi Kasei E-materials Corp.
Toko, Inc. |
|
| President: | Shigeru Kawatsuhara |
| Head office: | Saitama, Japan |
| Establishment: | August 9, 195 |
| Paid-in capital: | ¥16,446,219,300 (as of March 31, 2010) |
| Sales: | ¥38 billion (year ended March 31, 2010) |
| Employees: | 11,680 (as of March 31, 2010) |
| Main products: | Coils & related products, unit products, electroceramic products |
For more information, please contact:
| Asahi Kasei Corporation | Toko, Inc. |
| Corporate Communications | Corporate Communication Dept. |
| Phone: +81-(0)3-3296-3008 | Phone: +81-(0)49-250-2125 |
| Fax: +81-(0)3-3296-3162 | Fax: +81-(0)49-250-2188 |