Information contained in the news releases are current as of the date of the press announcement, but may be subject to change without prior notice.
Jan 31, 2011
TDK Corporation (President: Takehiro Kamigama) hereby announces that today it agreed with NITTO DENKO CORPORATION (President: Yukio Nagira) to purchase 65% of the issued shares of NITTO DENKO (SHANGHAI) ELECTRO-ENERGY CO.,LTD. A consolidated subsidiary of NITTO DENKO CORPORATION, NITTO DENKO (SHANGHAI) ELECTRO-ENERGY CO.,LTD. develops lithium-ion battery separators.
- Objective of This Share Purchase
The TDK Group manufactures and sells various electronic components such as capacitors and inductive devices, as well as magnetic heads for HDDs, power supply components and other products. All products are based on TDK’s core materials technologies such as the magnetic material “ferrite,” as well as process technologies.
TDK is determined to continue the innovation of its materials and process technologies going forward as the driving force for adding further value and differentiating its products.
Under its medium- to long-term business plan, TDK will develop products for the growing environment- and energy-related markets, having positioned these as an important field for driving growth.
In recent years, the battery market has seen rapid expansion globally in demand for use in various types of electronic devices. TDK decided to purchase an equity stake in NITTO DENKO (SHANGHAI) ELECTRO-ENERGY CO.,LTD., having determined that combining its materials and process technologies with synthetic polymer technology, a forte of the NITTO DENKO Group, should yield distinctive separators that will satisfy customer demands in terms of both performance and quality.
- Overview of Company in Which TDK Will Purchase Shares
(1) Company NITTO DENKO (SHANGHAI) ELECTRO-ENERGY CO.,LTD. (2) Headquarters 716-2 Lianyang Rd., Songjiang Industrial Zone, Songjiang, Shanghai, 201613, China (3) Representative Toshihiko Omote, President (4) Main business Development, manufacture and sales of semiconductor materials and electronic components. (5) Paid-in capital US$30.3 million (6) Establishment September 1, 2003 (7) Shareholder NITTO DENKO CORPORATION (100%)
The shares are to be transferred by the end of May 2011. NITTO DENKO (SHANGHAI) ELECTRO-ENERGY CO.,LTD. will become a TDK consolidated subsidiary as a result of this share transfer.
This transaction will have a negligible impact on TDK’s consolidated business performance.
For further information, contact Mr. Marukawa in the Corporate Communications Dept.