Tachibana Eletech Signs Basic Agreement to Acquire Semiconductor Business in Korea
Tachibana Eletech (TYO:8159) said it concluded an agreement with Japanese general trading company Koshida Corp to discuss acquiring a semiconductor-related business operated by its Korean affiliate Koshida Korea Corp, according to a Thursday filing on the Tokyo Stock Exchange.The technology-driven trading company said it concluded the deal through its Hong Kong-based subsidiary Tachibana Overseas Holdings and plans to acquire the business related to Renesas Electronics semiconductor devices operated by Koshida Korea.The company plans to execute a definitive agreement and will complete the transaction upon completion of the necessary due diligence and review, and the transaction is expected to strengthen its overseas business base and expand its business domains.
