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Oki Electric IndCoLd (OKE)

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Friday 27 June, 2008

Oki Electric IndCoLd

OKI to spin-off semiconductor

RNS Number : 6830X
Oki Electric Industry Co
27 June 2008
 

FOR IMMEDIATE RELEASE

No. e08036

 

Oki Electric Industry Co., Ltd.

Public Relations Division

7-12, Toranomon 1-chome, Minato-ku, Tokyo 105-8460, Japan

Tel:+81-3-3580-8950 FAX:+81-3-3581-5522

http://www.oki.com


OKI to Spin-off its Semiconductor Business
to Establish New Company


TOKYO, May 28, 2008 - Oki Electric Industry Co., Ltd. (TSE: 6703) announced that at its meeting today, the Board of Directors approved the spin-off of its semiconductor business through a company split to establish a new company, OKI Semiconductor Co., Ltd., effective Oct. 1, 2008.


'As announced in October 2007, OKI is currently implementing measures to revamp the business structure to ensure stable profit and achieve our mid-term business plan,' said Katsumasa Shinozuka, President and CEO at OKI. 'We are spinning-off our semiconductor business to conduct a more flexible business operation, to establish an efficient and agile management structure that corresponds to the rapidly changing semiconductor market, and to clarify the profit responsibility as a business.'


The new company, OKI Semiconductor, will aim to increase sales with business pillars such as logic LSIs and system LSIs that leverage OKI's advantages of low power consumption, high-voltage processing, digital/analog mixed processing and small-size packaging technologies. The company will inherit OKI'strengths in system memories as seen in P2ROM and foundry business based on differentiating technologies such as high voltage processing, and it will also offer new products with OKI'unique process technologies including Silicon-on-Insulator (SOI) and Wafer-level Chip-size Packaging (W-CSP). As part of the spin-off, all semiconductor-related OKI subsidiaries, such as Miyazaki OKI and Miyagi OKI, will become OKI Semiconductor's subsidiaries. 



OKI plans to transfer part of the new company's shares to Rohm Co., Ltd. to aim for a synergy effect by complementing each other with OKI Semiconductor's technologies. 


About OKI Semiconductor Co., Ltd. (Effective October 1, 2008)

Address:                        550-1 Higashi Asakawa Cho, HachiojiTokyoJapan

Date of foundation:        October 1, 2008

Capital:                          20 billion yen (100% by OKI Electric Industry)

Representative:             Hironori Kitabayashi, President and Representative Director

Employees:                    Approx. 6,000 personnel (consolidated base)

Sales target:                  155.0 billion yen (consolidated base in FY ending March 2011)
Operation:
                      Develop, manufacture, sell, import and export semiconductors and 

                                       electronic devices



# # #

About Oki Electric Industry Co., Ltd.

Founded in 1881, Oki Electric Industry Co., Ltd. is Japan's first telecommunications manufacturer, with its headquarters in TokyoJapan.  OKI provides top-quality products, technologies and solutions to its customers through its info-telecom system business, semiconductor business and printer business.  All three businesses function as a collective force to create exciting new products and technologies that satisfy a spectrum of customer needs in various markets. Visit OKI's global web site at http://www.oki.com/.


Notes:

  • Names of companies and products are trademarks or registered trademarks of the respective companies and organizations



Press contact:

For Europe and Americas:

Naomi Takeuchi

Public Relations Division

Phone: +1-408-737-6279

Email: 

For Asia and Other Areas:

Akiko Horiguchi

Public Relations Division    

Phone: +81-3-3580-8950

Email: press@oki.com







This information is provided by RNS
The company news service from the London Stock Exchange
 
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