Aug 3 2013
Murata Manufacturing Co., Ltd. (Murata) implemented a share exchange with Tokyo Denpa Co., Ltd. (TEW) effective August 1, 2013 pursuant to a share exchange agreement executed with TEW on February 13, 2013, and as a result, Murata became the wholly-owning parent company of TEW, and TEW became the wholly-owned subsidiary of Murata.
As a result of the share exchange, Murata acquired crystal device products and technologies, and going forward, Murata will work to expand this product lineup and reinforce the development, production, and sale of crystal devices.
"I welcome personnel from TEW, a time-honored company, as members of the Murata group, and look forward to tackling the challenges of the future together. " Tsuneo Murata, President of Murata said. "We will make every effort to anticipate client needs, develop products and services that meet those needs, and maximize customer value. "
Murata and TEW have maintained a long-standing relationship. The two companies entered into a capital and business alliance agreement in connection with the crystal device business in 2009, and in 2011 signed a comprehensive cooperation agreement. Murata and TEW have cooperated in the joint development and commercialization of HCR, high-precision and low-cost crystal resonators.
The two companies determined that in order to increase their synergy effects and weather today's challenging economic environment, making TEW a wholly-owned subsidiary of Murata would be optimal for building the essential strong business structures that can fully leverage Murata's and TEW's combined resources including development, manufacturing, sales, marketing, and management and speed up decision-making.
To substantially increase the corporate value of both companies, three main business synergies will be pursued:
- Increasing the production capacity of crystal and other products to respond to rapidly increasing demand. Introducing on a major scale Murata's manufacturing technologies, supply chain management capabilities, and marketing techniques at TEW to strengthen its ability to meet supply and demand and, in turn, maximize earnings.
- Utilizing Murata's sales channels to the fullest extent in the near future in order to market and expand sales of TEW's products globally; leveraging a wide-ranging product lineup to develop new clients and further expand Murata's and TEW's marketing and sales.
- Creating high-performance and high value-added electronic components by strengthening the planning and development proposal structures of TEW for key global customers and jointly developing pioneering products that meet future customer needs.
Source: http://www.murata.com/