TPE:2317

Hon Hai's North American Factories Hit by Cyberattack

Hon Hai Precision Industry (TPE:2317) said some of its North American factories were recently targeted in a cyberattack, according to a Tuesday filing on the London Stock Exchange.Shares of the electronics contract manufacturer slid over 1% in Wednesday's late morning trade.The company, also known as Foxconn, said its cybersecurity team activated emergency response measures immediately to maintain production and delivery operations.The affected facilities are gradually returning to normal production, Hon Hai added, without disclosing the scale of the attack or any financial impact.

EU Clears Foxconn-Mitsubishi Fuso Bus Joint Venture Deal

The European Commission has approved the formation of a joint venture between Hon Hai Precision Industry, commonly known as Foxconn (TPE:2317), and Japan's Mitsubishi Fuso Truck and Bus, which is controlled by Daimler Truck, to develop and manufacture commercial buses.The venture will focus on the production and supply of heavy and light buses, according to a regulatory update on Monday.The regulator said the deal does not raise competition concerns due to its limited impact within the European Economic Area. The review was conducted under a simplified merger procedure.

Japan Equities Slide Amid Rising Middle East Tensions

Japanese shares closed lower on Friday as escalating Middle East tensions stoked concerns over energy supplies and weighed on investor sentiment.The Nikkei 225 fell 0.19%, or 120.19 points, to close at 62,713.65.U.S. President Donald Trump warned Iran of stronger military action if it failed to quickly reach a deal, while saying the ceasefire remained in place.Global equities have gained in recent weeks on optimism that AI-related spending will support corporate earnings, while investors also monitored U.S. efforts to ease tensions with Iran in hopes of containing energy prices and sustaining risk appetite.On the domestic front, Japan's real wages rose 1% in March from a year earlier, while nominal wages gained 1.6% and overtime pay increased 1.9%, government data showed Friday.Japan's services sector growth slowed to an 11-month low in April as weaker demand and rising costs pushed companies to raise prices sharply, complicating the Bank of Japan's policy outlook ahead of a possible rate increase.In corporate news, Infroneer (TYO:5076) rose 5% after lowering the conversion price for its 2029 zero-coupon green convertible bonds following approval of a 90 yen-per-share dividend.Mitsubishi UFJ Financial Group (TYO:8306) fell 2% after saying it will partner with Google to develop AI-based retail financial services. Meanwhile, SoftBank Group (TYO:9984) dropped 5% amid plans to develop and manufacture AI servers domestically with support from Nvidia and Foxconn (TPE:2317).

Market Chatter: SoftBank Holds Talks With Nvidia, Foxconn on AI Server Production; Shares Down 5%

SoftBank Group (TYO:9984) is considering developing and manufacturing AI servers domestically, with plans to begin designing and assembling some components by the end of the decade, Nikkei Asia reported Friday.The mobile unit of SoftBank Group is focusing on high-performance AI servers capable of running advanced graphics processing units and may outline the initiative in its medium-term business plan expected as soon as Monday, the report said.SoftBank has started talks with Nvidia and Foxconn (TPE:2317) on server development and production. The company aims to initially assemble externally sourced parts before expanding to end-to-end server manufacturing, according to Nikkei.SoftBank is reportedly also considering establishing a production base at a former Sharp (TYO:6753) plant in Sakai, Osaka, acquired last year.The servers would support the company's data centers and AI-RAN infrastructure, which integrates telecom base stations with AI processing capabilities, according to the report.SoftBank's shares fell 5% in Tokyo trading recently.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Market Chatter: Taiwanese Chip, Tech Firm Plan About NT$1 Trillion Investment in US

Taiwanese semiconductor and tech companies are planning around NT$1 trillion ($35 billion) in fresh investment in the United States, Focus Taiwan reported Thursday, citing Economy Minister Kung Ming-hsin.He said about 20 firms, including GlobalWafers (TWO:6488) and Foxconn (TPE:2317), have signaled US expansion plans, excluding TSMC, which has already committed NT$5.17 trillion separately.Kung also said progress is being made on a double taxation relief bill, while CPC Corp advanced its energy cooperation through a 25-year LNG deal with US LNG firm, Cheniere, the news outlet said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Hon Hai, Mitsubishi Electric to Explore Automotive Equipment Partnership; Hon Hai Shares Gain 3%

Hon Hai Precision Industry (TPE:2317) and Mitsubishi Electric (TYO:6503) signed a memorandum of understanding to explore a strategic partnership in the automotive equipment business, according to a Friday Taiwan Exchange filing.Shares of Hon Hai rose about 3% in Monday's midday trade in Taiwan, while those of Mitsubishi Electric gained marginally in Tokyo.Under the deal, both sides will discuss the possibility of jointly operating the business, including Foxconn potentially acquiring a 50% stake in Mitsubishi Electric Mobility.The plan remains subject to mutual agreement on commercial terms and regulatory approvals before any final deal is reached.Discussions are still in the exploratory stage, and no binding transaction has been completed, the companies said.The move is part of its broader push into the automotive and mobility sector, the filing said.

Mitsubishi Electric, Foxconn Sign MOU for Automotive Equipment JV

Mitsubishi Electric (TYO:6503) and Hai Technology Group (Foxconn) (TPE:2317) signed an MOU to explore a strategic alliance for jointly operating Mitsubishi Electric's automotive equipment business.Under the proposed deal, Foxconn would acquire a 50% stake in Mitsubishi Electric Mobility Corp., according to a statement on Saturday.The formal conclusion of the joint operation depends on both parties reaching a mutual agreement on commercial terms and signing a final contract. DDiscussions are set to proceed promptly, with any final agreement subject to regulatory approvals.

Capital Securities Upgrades Hon Hai Precision Industry to Buy from Neutral; Price Target is NT$260