Background to Disclosure: Announcement on Agreement to Establish Joint Venture and Expand Collaboration with Qualcomm
Apr. 7, 2017
TDK Corporation announces that today it has decided the details of the items “Capital”, “Net assets” and “Gross assets” associated with the transfer of certain business to RF360 Holdings Singapore PTE. Ltd., a joint venture with Qualcomm Incorporated that delivers RF front-end (RFFE) modules and RF filters, on February 3, 2017. This transfer followed the disclosures in “Announcement on Agreement to Establish a Joint Venture and Expand Collaboration with Qualcomm” on January 13, 2016 and “Announcement on Agreement to Establish Joint Venture and Expand Collaboration with Qualcomm” on February 3, 2017.
At that time, the details of “Capital”, “Net assets” and “Gross assets” remained as “Being calculated.” These items have now been decided and are shown in the following table, with the applicable items underlined.
Outline of the Joint Venture
| (1)Name | RF360 Holdings Singapore PTE. Ltd. |
| (2)Location | Singapore |
| (3)Representative | Duane Nelles III |
| (4)Business | Development, design, procurement, manufacture, sales and marketing of RF front-end modules and RF filters |
| (5)Capital | 2,634,455 thousand US Dollars |
| (6)Date of founding | March 1, 2016 |
| (7)Fiscal year | September 30 |
| (8)Net assets | 2,634,499 thousand US Dollars |
| (9)Gross assets | 2,694,289 thousand US Dollars |
| (10)Equity ratio | Qualcomm Global Trading PTE. Ltd.: 51%, EPCOS AG: 49% |
About TDK Corporation
TDK Corporation is a leading electronics company based in Tokyo, Japan. It was established in 1935 to commercialize ferrite, a key material in electronic and magnetic products. TDK's portfolio includes electronic components, modules and systems* marketed under the product brands TDK and EPCOS, power supplies, magnetic application products as well as energy devices, flash memory application devices, and others. TDK focuses on demanding markets in the areas of information and communication technology and consumer, automotive and industrial electronics. The company has a network of design and manufacturing locations and sales offices in Asia, Europe, and in North and South America. In fiscal 2016, TDK posted total sales of USD 10.2 billion and employed about 92,000 people worldwide.
* The product portfolio includes ceramic, aluminum electrolytic and film capacitors, ferrites, inductors, high-frequency components and modules, piezo and protection components, and sensors.
Contact for media
| Contact | Phone | ||
|---|---|---|---|
| Mr. Kazushige ATSUMI | TDK Corporation | +81 3 6778-1055 | TDK.PR@tdk.com |
