KYOCERA Announces Result of Tender Offer for Shares of Nihon Inter Electronics Corporation
By Business Wire News
By Business Wire News
Kyocera Corporation (NYSE:KYO) (TOKYO:6971) has announced the completion of its tender offer, which commenced July 31, 2015 and concluded Aug. 28, 2015, to acquire a majority interest in Nihon Inter Electronics Corporation. As of the settlement date of September 4, 2015, Kyocera will commence acquiring a 69.33% equity interest in Nihon Inter Electronics Corporation, consisting of 40,112,700 common shares, as well as 21,461,524 shares converted from 9,121,148 shares of Class A Preferred Stock, totaling 61,574,224 shares.
Details are available at http://global.kyocera.com/ir/news/pdf/150829_e.pdf
Nihon Inter Electronics Corporation, listed in the second section of the Tokyo Stock Exchange, is a power-semiconductor manufacturer specializing in high-power industrial diodes and diode modules. Kyocera will consolidate Nihon Inter Electronics Corporation as of September 4, 2015 in order to expand its businesses in power electronics — particularly for industrial equipment, such as DC-to-AC power inverters, and automotive electronics.
Kyocera and Nihon Inter Electronics Corporation will enjoy R&D synergies by combining Kyocera’s ceramic device packages and epoxy molding compounds for semiconductors with the device technology of Nihon Inter Electronics Corporation. The two enterprises will also enjoy significant sales and marketing synergies as Nihon Inter Electronics Corporation will be able to sell its products through Kyocera’s global sales channels.
Kyocera Corporation (NYSE:KYO)(TOKYO:6971), the parent and global headquarters of the Kyocera Group, was founded in 1959 as a producer of fine ceramics (also known as “advanced ceramics”). By combining these engineered materials with metals and integrating them with other technologies, Kyocera has become a leading supplier of electronic components, semiconductor packages, solar power generating systems, mobile phones, printers, copiers, cutting tools and industrial ceramics. During the year ended March 31, 2015, the company’s net sales totaled 1.53 trillion yen (approx. USD12.7 billion). Kyocera appears on the latest listing of the “Top 100 Global Innovators” by Thomson Reuters, and is ranked #552 on Forbes magazine’s 2015 “Global 2000” listing of the world’s largest publicly traded companies.