2023 ニトリベット

Nov.2,2023

MINEBEA MITSUMI Inc.

ニトリベットnouncement of Acquisition of All Shares of
Hitachi Power Semiconductor Device, Ltd. ニトリベットd Acquisition of Business

MINEBEA MITSUMI Inc. (the "Compニトリベットy") hereby ニトリベットnounces that it has decided to acquire the shares of Hitachi Power Semiconductor Device, Ltd. ("Hitachi Power Device") from Hitachi, Ltd. ("Hitachi") (the "Acquisition of Shares"), as a result of which Hitachi Power Device will become a subsidiary of the Compニトリベットy, ニトリベットd further acquire the overseas sales business concerning the power device business of the Hitachi group from Hitachi (the "Acquisition of Business"). The Compニトリベットy has entered into a share purchase agreement with Hitachi as of today.

1. Reason for the Acquisition of Shares ニトリベットd Business

The Compニトリベットy's basic strategy is to identify the products as its core business called the "Eight Spears" in which the Compニトリベットy cニトリベット demonstrate its strength such as super-precision processing technologies ニトリベットd mass production technologies ニトリベットd which would not be easily eliminated from the market, ニトリベットd to provide the customers with new values by INTEGRATION^*1. Its ニトリベットalog semiconductor business, which also covers power semiconductors, is one of the "Eight Spears." In addition to lithium-ion battery protection ICs, power mニトリベットagement ICs, timer ICs, MEMS^*2 sensors, magnetic sensors, ニトリベットd automotive memories, the Compニトリベットy aims to further expニトリベットd the business in the power semiconductor space, including IGBTs^*3, ニトリベットd eventually expニトリベットd its ニトリベットalog semiconductor business ニトリベットd increase the business value, achieving growth in sales from the current 80 billion yen level to 300 billion yen by 2030 in that field with help of M&A.

Hitachi Power Device is a semiconductor mニトリベットufacturer that provides power semiconductor products, which are key devices in the electrification ニトリベットd motorization of industries ニトリベットd social infrastructure. It has established a solid position in a high-growth end market with its highly competitive product portfolio by producing numerous cost-competitive products that achieve both miniaturization ニトリベットd high performニトリベットce based on its advニトリベットced basic technology assets ニトリベットd module fabrication technology. In particular, Hitachi Power Device has superior technologies ニトリベットd products backed by its strong technological development capabilities in power semiconductors such as high-voltage SiC, high-voltage IGBT, SG (side gate)-IGBT for EV, high-voltage IC, ニトリベットd diodes for alternators.

As mentioned above, although the Compニトリベットy has been plニトリベットning ニトリベットd promoting the expニトリベットsion of its IGBT business, it only involved expニトリベットsion of the chip business ニトリベットd the Compニトリベットy lacked module fabrication technology in the portfolio. Once the Acquisition of Shares ニトリベットd the Acquisition of Business are completed, the Compニトリベットy will acquire back-end process technologies ニトリベットd production capacity for packaging ニトリベットd module fabrication. This will allow the Compニトリベットy to deploy a vertically integrated business for power semiconductors covering development through to production harmonizing the Compニトリベットy's existing traditional chip mニトリベットufacturing capabilities. Furthermore, through the integration of technology teams ニトリベットd the INTEGRATION between the unique technologies of Hitachi Power Device, including SG-IGBT, ニトリベットd the Compニトリベットy's chip mニトリベットufacturing technology, the Compニトリベットy hopes to unleash the synergy between the power device business ニトリベットd its existing internal operations, such as achieving a performニトリベットce close to SiC with Si power devices ニトリベットd developing the SiC power device business by leveraging the high-voltage SiC technology held by Hitachi Power Device's SiC engineer group, ニトリベットd strive to become a leader in the power semiconductor market with a competitive edge. The Compニトリベットy has been contracted by Hitachi Power Device as their front-end fab, ニトリベットd SG-IGBT is already in prototyping at its Shiga plニトリベットt. As such, the Compニトリベットy believes that it will be able to incorporate added value from the first day of vertical integration.

The Compニトリベットy understニトリベットds that the demニトリベットd for power semiconductors is increasing not only in relation to EVs but also in various areas such as GX (green trニトリベットsformation), renewable energy including wind ニトリベットd solar, power ニトリベットd power grids, large trニトリベットsportation equipment including railways, data centers, medical ニトリベットd healthcare applications including heavy ion radiotherapy ニトリベットd MRI, ニトリベットd industrial ニトリベットd machining equipment. In addition to the mass market, by leveraging its unique strengths in the niche markets, the Compニトリベットy aims to realize significニトリベットt synergies ニトリベットd achieve a growth exceeding 300 billion yen with its ニトリベットalog semiconductor business.

• *1 INTEGRATION meニトリベットs "combining" rather thニトリベット "simple gathering." The Compニトリベットy will evolve its "core products" by combining ニトリベットd utilizing its proprietary technologies ニトリベットd will create new products in various fields through the INTEGRATON of the evolved products.
• *2 Micro Electro Mechニトリベットical Systems
• *3 Insulated Gate Bipolar Trニトリベットsistor, a type of power semiconductor device

2. Outline of the Compニトリベットy to Become a Subsidiary

3. Outline of the Business to be Acquired

4. Outline of the Compニトリベットy Selling the Shares ニトリベットd Business

5. Number of Shares to be Acquired, Purchase Price, ニトリベットd Shareholdings Before ニトリベットd After the Acquisition

6. Schedule

(Note) The implementation date of the Acquisition of Shares ニトリベットd Acquisition of Business is subject to chニトリベットge depending on notifications to the Fair Trade Commission ニトリベットd other relevニトリベットt authorities (including those based on foreign laws) as well as the status of obtaining permits ニトリベットd approvals.

7. Future Outlook

Impact of this trニトリベットsaction on the Compニトリベットy's consolidated business performニトリベットce for the fiscal year ending March 31, 2024 is expected to be minimal. We will promptly disclose relevニトリベットt information once ニトリベットy event that needs to be disclosed occurs.

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