Notification of Medical Equipment ICs Business Transfer from Hitachi, Ltd. to SII Semiconductor Corporation

News Release

November 22, 2016
 
Seiko Instruments Inc.
SII Semiconductor Corporation

 

Notification of Medical Equipment ICs Business Transfer from Hitachi, Ltd.
to SII Semiconductor Corporation

 

Under the definitive agreement regarding the business transfer, SII Semiconductor Corporation (President: Nobumasa Ishiai, Head Office: Chiba-shi, Chiba; hereinafter “SII Semiconductor”) that manufactures and sells semiconductors as a subsidiary of Seiko Instruments Inc. (President: Hitoshi Murakami, Head Office: Chiba-shi), today announced the acquisition of the medical equipment ICs business from Hitachi, Ltd. (Representative Executive Officer, President & CEO: Toshiaki Higashihara, Head Office: Chiyoda-ku, Tokyo; hereinafter “Hitachi”) is completed.

 

  1. Reason for the transfer
    1. SII Semiconductor has hitherto been striving to develop a wide range of product lines including analog ICs and EEPROM for consumers and automotive use, as well as information and communication equipment with the aim of expanding business in fields targeted for future growth.
      On the other hand, Hitachi was seeking a mutually beneficial partnership for the medical equipment ICs business based on a review of its business portfolio.
      Under these circumstances, this business alliance has been realized in accordance with mutually advantageous results from a strategic viewpoint for both companies. SII Semiconductor will enter the medical equipment ICs business field, where significant growth is expected, and devote every effort to enlarge the business in the future by developing application products, etc.
  2. Details of Business Transfer
    1. The medical equipment ICs business in addition to related technology and assets
    2. (medical equipment IC products, information connected with development/manufacturing, intellectual property rights, measuring equipment, including development engineers.)
  3. Schedule of Business Transfer
    1. Conclusion of Business Transfer Agreement: August 5, 2016
    2. Effective Date of Business Transfer: November 22, 2016
  4. Business Location and Operations
    1. Business Location: Urban Tachikawa Building, 6-15, Shibasaki 3-chome,Tachikawa-shi, Tokyo, 190-0023 Japan
    2. Start of operations: November 22, 2016
  5. Outline of the Assignor Company
    1. (1) Trade name: Hitachi, Ltd.
    2. (2) Location: 6-6, Marunouchi 1-chome, Chiyoda-ku, Tokyo, 100-8280 Japan
    3. (3) Business line: Nine business segments involved in product development,manufacturing, sales and services: Information and telecommunication systems, social infrastructure and industrial systems, electronic systems and equipment,construction machinery, high-functionality materials and components, automotive systems, living and ecosystem, financial services, and others.
    4. (4) Capital: 458,790 million yen (as of end of March 2016)
    5. (5) Date of Establishment: February 1920
  6. Outline of the Assignee Company
    1. (1) Trade name: SII Semiconductor Corporation
    2. (2) Location: 8, Nakase 1-chome, Mihama-ku, Chiba-shi, Chiba 261-8507, Japan
    3. (3) Business line: Development, manufacturing and sales of semiconductors.
    4. (4) Capital: 9,250 million yen (as of end of March 2016)
    5. (5) Date of Establishment: September 2015 (Start of operations: January 2016)

With respect to the future direction of SII Semiconductor, management plans to continue to extend and grow the business by providing customers with finely tuned services, and continuing mutually beneficial partnerships with Hitachi.