Renesas Electronics, Renesas Northern Japan Semiconductor, a wholly owned subsidiary of Renesas Electronics, and Fuji Electric have signed an agreement to transfer Renesas Northern Japan Semiconductor's
Tsugaru factory (Goshogawara, Aomori) to Fuji Electric.
The companies plan to complete the transfer on July 1,
To improve in-house, front-end manufacturing efficiency
by promoting larger wafers, and miniaturization, Renesas
has been reviewing various measures for its manufacturing
sites. As part of this ongoing review process, an
agreement has been reached to transfer the Tsugaru
Factory to Fuji Electric, which had been considering a
new manufacturing facility to further expand the supply
capacity of its power semiconductor business.
Renesas Northern Japan Semiconductor will transfer its
business operation of the Tsugaru Factory to its wholly
owned subsidiary, which is scheduled to be established
through an absorption-type separation (Kyushu-bunkatsu)
effective on the transfer completion date, July 1, 2012.
Upon this absorption-type separation, all of the new
shares of common stock for the new company will be
allocated to Fuji Electric.
Additionally, Renesas Electronics, Renesas Northern Japan
Semiconductor, the new company, and Fuji Electric will
conclude an agreement whereby the new company will
manufacture under contract Renesas Electronics and
Renesas Northern Japan Semiconductor products currently
being produced at the Tsugaru Factory.