TAIPEI (Taiwan News) — Taiwan electronics manufacturer Yageo said on Wednesday it expects to gain national security clearance from Japan to acquire Shibaura Electronics.
Yageo, a major supplier for Apple and Nvidia, said in a statement it has concluded talks with Japan’s Ministry of Economy, Trade and Industry on the proposed conditions regarding the NT$22.81 billion (110 billion yen) buyout of the Japanese company. Yageo submitted all required regulatory document submissions on Wednesday.
Japanese parts supplier MinebeaMitsumi offered a NT$1284.65 per share counterbid, but the offer expired on Thursday. Yageo said it expected to obtain approval for the tender offer by Sept. 10.
After the Taiwanese company made its unsolicited offer in February, Shibaura designated itself as “under Japan's ‘core’ national security category,” Reuters reported.
Shibaura said some of its products are for military and aerospace applications. Yageo has made assurances it does not intend to alter the company’s core identity or operational independence, as it values Japan’s leadership in electronic component technologies.
