May 3, 2012 -- Nitto Denko Corporation approved a transfer of its Nitto Electronics Kyushu Corporation (Japan) and Nitto Denko Electronics (Malaysia) Snd. Bhd. businesses, as well as personnel, other assets, and properties related to its semiconductor encapsulating materials business, to Hitachi Chemical Co. Ltd.
The transfer price was set at 5.4 billion yen, subject to change depending on asset, liability, and exchange rate conditions. The deal was first brokered in March 2012.
The semiconductor encapsulant business, excluding optoelectronics encapsulants, is focused on transfer molds, has a “strong complementary relationship” to Hitachi Chemical’s offerings. Nitto Denko will now focus on environmental, energy, and life sciences applications sectors. Resources previously associated with the semiconductor encapsulant business will be applied to other product businesses for the semiconductor market.
Hitachi Chemical plans to expand the scale of its business with the additional segment, and explore synergies with the company’s other semiconductor manufacturing materials.
The companies plan to complete the business transfer by October 1, 2012, subject to necessary licenses and approvals.
Nitto Denko Group uses adhesion and coating technologies to add diverse functions to sheets and films for various application sectors. Learn more at http://www.nitto.com/.
Hitachi Chemical Co. Ltd. is a chemical manufacturer engaged in semiconductor and display-related materials and other areas. Learn more at http://www.hitachi-chem.co.jp/english/.