OITA & TOKYO, Japan & CHANDLER, Ariz.--Nakaya Microdevices Corporation (NMD), Amkor Technology, Inc. (Nasdaq: AMKR) and Toshiba Corporation (TOKYO: 6502) today announced that they have signed a non-binding memorandum of understanding expressing their intent to form a joint venture in Japan that will provide system LSI assembly and testing services. The structure, terms and amounts of each party’s contributions and other support for the joint venture have not yet been determined. The commencement of joint venture operations is targeted for October 1, 2009 but is subject to the negotiation of definitive agreements, due diligence and the receipt of any necessary government approval.
Toshiba plans to transfer to the joint venture the system LSI back-end process operations of its Japan-based, wholly owned semiconductor packaging company, Toshiba LSI Package Solutions Corporation (TPACS), including TPACS’s Oita Works and its system LSI business at Fukuoka Works. Toshiba also plans to transfer to the joint venture wafer probing equipment installed at its Oita Operations and Kitakyushu Operations. It is anticipated that NMD will have a majority position in the joint venture business. Amkor is expected to provide its manufacturing expertise, sales support, technical assistance, planning and procurement services and other support to the joint venture.
This collaboration will support Toshiba Group in promoting an outsourcing system for the LSI back-end process, and in accelerating the comprehensive restructuring of its semiconductor business under the Action Program to improve profitability that the company announced in January this year. It will also allow NMD and Amkor to enhance and strengthen their relationships with a strategic customer and to further grow their respective semiconductor assembly and testing businesses.
Founded in 1970 in Oita, Japan, Nakaya Microdevices Corporation has served as an independent provider of semiconductor assembly and test for nearly 40 years. More information is available in Japanese at http://www.nakaya-md.co.jp/
Amkor is a leading provider of semiconductor assembly and test services. The company offers semiconductor companies and electronics OEMs a complete set of microelectronics design and manufacturing services. More information on Amkor is available from the company’s SEC filings and on Amkor’s website: www.amkor.com.
Toshiba is a world leader and innovator in pioneering high technology, and a diversified manufacturer and marketer of advanced electronic and electrical products spanning information & communications equipment and systems; digital consumer products; electronic devices and components; power systems, including nuclear energy; industrial and social infrastructure systems; and home appliances.
Toshiba was founded in 1875, and today operates a global network of more than 740 companies, with 198,000 employees worldwide. Visit Toshiba's web site at www.toshiba.co.jp/index.htm
This press release contains forward-looking statements concerning future plans, strategies and the performance of Nakaya Microdevices Corporation. These statements are based on management’s assumptions and beliefs in light of the economic, financial and other data currently available. Furthermore, they are subject to a number of risks and uncertainties. Nakaya therefore wishes to caution readers that actual results might differ materially from our expectations. Major risk factors that may have a material influence on results are indicated below, though this list is not necessarily exhaustive.
Forward-Looking Statement Disclaimer
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. All statements other than statements of historical fact are considered forward-looking statements including, without limitation, statements regarding the establishment, structure, content and performance of the joint venture. These forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could affect future results and cause actual results and events to differ materially from historical and expected results and those expressed or implied in the forward-looking statements, including, but not limited to, the following: the memorandum of understanding is non-binding; the establishment, structure and content of the joint venture are subject to due diligence, any necessary government approvals, further negotiation, entry into definitive agreements and any conditions contained in such agreements; and the performance of the joint venture will depend on the parties’ ability to successfully integrate and manage their contributions to the venture. Other important risk factors that could affect the outcome of the events set forth in these statements and that could affect the operating results and financial condition of the joint venture or Amkor are discussed in Amkor’s Annual Report on Form 10-K for the year ended December 31, 2008 and in Amkor’s subsequent filings with the Securities and Exchange Commission made prior to or after the date hereof. Amkor undertakes no obligation to review or update any forward-looking statements to reflect events or circumstances occurring after the date of this press release.
This press release contains forward-looking statements concerning future plans, strategies and the performance of Toshiba Group. These statements are based on management’s assumptions and beliefs in light of the economic, financial and other data currently available. Furthermore, they are subject to a number of risks and uncertainties. Toshiba therefore wishes to caution readers that actual results might differ materially from our expectations. Major risk factors that may have a material influence on results are indicated below, though this list is not necessarily exhaustive.