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Announcement regarding Change of Parent Company

ABLIC Inc. (hereafter “ABLIC”) hereby officially announced today that Development Bank of Japan (Head Office: Chiyoda-ku, Tokyo, President & CEO: Hajime Watanabe, 70% of shareholding ratio) and Seiko Instruments Inc. (Head Office: Chiba-shi, Chiba, President: Tetsu Kobayashi, hereafter “SII”, 30% of shareholding ratio), and MinebeaMitsumi Inc. (hereafter “MinebeaMitsumi”) have concluded a share transfer agreement in regard to share acquisition of our company.
With this agreement, ABLIC is going to play an important role to enhance MinebeaMitsumi's business as their wholly owned subsidiary after completion of this share transfer.

1. Background

ABLIC's history began from development of CMOS IC for quartz watch in 1968 and then has been enhancing the business globally as a semiconductor division under SII. Currently, ABLIC became a semiconductor manufacturer with a large number of unique products that utilize low-current consumption, low-voltage operation and ultra-small packaging technologies, mainly analog ICs, such as voltage regulators / voltage detectors and lithium-ion battery Protection ICs for consumer products, automotive EEPROM, power ICs, and ultrasound imaging ICs for medical devices.

ABLIC started its business operation as SII Semiconductor Inc. in January, 2016, after spinning off a semiconductor division which was used to be one of the divisions in Seiko Instrument Inc., then ABLIC changed the capital composition and the trade name in January, 2018. ABLIC has aggressively taken several measures with sense of speed as an individual business firm under new circumstances and achieved design-wins continuously and globally in quick growing market for automotive devices , medical equipment, and IoT & wearable devices area, and also ABLIC is making effort to aim at further growth.

On the other hand, MinebeaMitsumi's basic strategy is to identify the products as its core business in which MinebeaMitsumi can demonstrate its strength, such as super-precision processing technologies and mass production technologies, and which would take the market in the future and to provide the customers with new values by combining and integrating such products. Because analog semiconductors are one of MinebeaMitsumi's core business and important components as a gateway to IoT technologies, which is a business area that MinebeaMitsumi is focusing on, MinebeaMitsumi intends to further expand its analog semiconductor business by enhancing its product portfolio and entering new application markets.

2. Objective

ABLIC and MinebeaMitsumi have respective product portfolios which can be complemented each other, and the comprehensive extension will enable us to achieve multiple synergistic effects. In respect of research and development, it will enable us to develop and manufacture products with even higher performance and quality by integrating both companies' advanced technologies. In addition, when it comes to manufacturing, it will be able to improve quality and productivity and strengthen both companies' BCP responsiveness through joint production activities at the wafer process and assembly and testing process plants of both companies and by sharing industrial technologies and know-how seamlessly between the companies. Furthermore, it is expected to generate synergies that are not limited to the semiconductor field, such as the mutual use of the sales channels of ABLIC and MinebeaMitsumi, and the application by technologies possessed by both companies to the development of new products, sharing management methods and maximizing use of human resources and so on.

With MinebeaMitsumi's technological strength, performance which have led Japanese manufactured industry, ABLIC will enhance globally to expand our sales of high-value added products for industrial equipment and medical devices and our share for automotive devices market, and ABLIC will be making effort to aim at further extension of ABLIC's analog semiconductor business and improvement of corporate value.

3. Outline of ABLIC

(1)Name ABLIC Inc.
(2)Head Office 1-8, Nakase, Mihama-ku, Chiba-shi, Chiba
(3)Representative Nobumasa Ishiai, President and CEO
(4)Business Line Development, design, manufacture, and sales of semiconductors
(5)Capital ¥9,250 million
(6)Establishment September 28, 2015
(7)Shareholders Development Bank of Japan Inc. 70%
Seiko Instruments Inc. 30%
(8)Company's consolidated state of income for past three years
Fiscal year end 2017 March 2018 March 2019 March
Consolidated net sales ¥28,548 million ¥32,784 million ¥32,851 million
Consolidated operating income ¥2,464 million ¥4,832 million ¥4,174 million

4. Outline of MinebeaMitsumi TSE First Section: 6479

(1)Name MinebeaMitsumi Inc.
(2)Head Office 4106-73 Oaza Miyota, Miyota-machi, Kitasaku-gun, Nagano
(3)Representative Yoshihisa Kainuma, Representative Director, CEO&COO
(4)Business Line Machinery Components Business, Electronic Devices and Components business, Automotive, Industrial Machinery and Home Security Unit Business
(5)Capital ¥68,259 million
(6)Establishment July 16, 1951
(7)Company's consolidated state of income for past three years
Fiscal year end 2017 March 2018 March 2019 March
Consolidated net sales ¥638,926 million ¥879,139 million ¥884,723 million
Consolidated operating income ¥49,015million ¥79,162 million ¥72,033 million

5. Schedule

Change of shareholder July, 2020

(Note) The closing date for this execution is subject to be changed due to the situation from authorities

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Corporate Communications Unit, ABLIC Inc.