SoftBank acquires ARM Holdings plc driven by paradigm shift to Internet of Things (IoT)

softbank eurotechnology.com

On 18 July 2016 SoftBank announced to acquire ARM Holdings plc for £17 per share, corresponding to £24.0 billion (US$ 31.4 billion)

SoftBank acquires ARM: acquisition completed on 5 September 2016, following 10 years of “unreciprocated love” for ARM

On 18 July 2016 SoftBank announced a “Strategic Agreement”, that SoftBank plans to acquire ARM Holdings plc for £24.0 billion (US$ 31.4 billion, ¥ 3.3 trillion) paid as follows:

  • Cash on Hand: £16.7 billion (US$ 12.5 billion, ¥ 2.3 trillion)
  • Loans: £7.3 billion (US$ 9.5 billion, ¥ 1.0 trillion)
  • Total: £24.0 billion (US$ 31.4 billion, ¥ 3.3 trillion)

(excluding 20.4 million shares (1.4%) that SoftBank already owned on 18 July 2016).

Acquisition schedule:

  • 18 July 2016: Strategic agreement between SoftBank and ARM announced by SoftBank
  • 5 September 2016: effective date of Scheme of acquisition
  • 6 September 2016: ARM delisted, cancellation of listing of ARM shares
  • 12 September 2016: cancellation of listing of ARM US Depositary shares (ADS)

Straight line from SoftBank’s acquisition of Vodafone-Japan to acquisition of ARM

In a detailed interview in Nikkei on 3 September 2016, Masayoshi son explained that he was interested in ARM ever since about 1906, when saw the paradigm shift from PC to mobile, when he discussed his designs for mobile internet handsets with Steve Jobs, and when he acquired Vodafone-Japan (see: Why did Vodafone fail in Japan? … and miss an opportunity of US$ 83 billion).

SoftBank’s acquisition of Vodafone Japan is explained here: Softbank acquires Vodafone Japan with co-investment from Yahoo KK

SoftBank’s acquisition of Vodafone Japan – in combination with having developed YAHOO-Japan into the leading internet service company in Japan – enabled SoftBank to become a key global player in mobile communications.

Masayoshi Son: unreciprocated love for ARM for 10 years

In the Nikkei interview of 3 September 2016, Masayoshi Son explains that he had an “one-sided / unreciprocated love for ARM” for at least 10 years, but decided to acquire SPRINT first. After acquiring SPRINT he had to pay down debt before being able to acquire ARM now.

ARM Holdings plc

ARM was founded on 27 November 1990 as Advanced RISC Machines, however the abbreviation ARM was first used in 1983 and initially meant “Acorn RISC Machines”.

Acorn Computers Ltd was founded in 1978 in Cambridge (UK) by Hermann Hauser and Chris Curry to produce computers, and its most famous product was the BBC Micro Computer.

ARM has built an ecosystem of IC design systems and platforms which are at the core of low energy consumption ICs and CPUs for smartphones and many other electronic devices and cars. ARM may become or already is one of the core technology companies for the Internet of Things (IoT).

SoftBank’s ARM Business Department’s name changed to “New Business Department”

On 3 September 2016 SoftBank announced that the name of SoftBank’s ARM Business Department has been changed to SoftBank New Business Department.

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Toray acquires Delta-Tech SpA to expand carbon fiber business in Europe

Toray acquires Delta-Tech: 55% of Italian fiber manufacturer Delta-Tech SpA including Delta-Preg SpA

Toray management program Project AP-G 2016: “thorough implementation of growth strategy through innovation and aggressive management”

Toray acquires Delta-Tech: acquires 55% of outstanding shares of the Italian prepreg manufacturer Delta-Tech SpA including the fully owned subsidiary Delta-Preg SpA.

Delta-Tech SpA and Delta-Preg SpA

Delta-Tech SpA was founded in 1999 for products in the composite materials industry.

Delta-Tech product groups include:

  • fabrics: woven carbon, multi axial stitched carbon, woven glass…
  • UD tapes: HS carbon fiber, IM carbon fiber etc
  • Kordo: pre-formed edging system
  • SIMS: Semi-impregnated micro-sandwich, laminates based on the use of non-woven needle punched fabrics with micro-sandwich structures. Applications are automotive body panels and personal protection equipment

Delta-Preg SpA was founded in 2001 and manufactures textiles.

Pre-preg

Pre-Preg are pre-impregnated composite fibers with a matrix material such as epoxy.

Toray’s medium term management program “Project AP-G 2016” (from April 2014 to March 2017)

Toray’s Project AP-G 2016 is part of Toray’s long term vision “AP-Growth TORAY 2020“, and follows “Project AP-G 2013.

Thorough implementation of growth strategy through “innovation and aggressive management”.

Key benchmarks for FY 2016:

  • Consolidated net sales: YEN 2.3 trillion (US$ 23 billion)
  • Consolidated operating income: YEN 180 billion (US$ 1.8 billion)
  • ROA 8%
  • ROE 10%

Toray’s long term vision “AP-Growth TORAY 2020“: become “a global top company of advanced materials”

AP-Growth TORAY 2020 is a unified growth map for the next 10 years based on Toray’s corporate vision of “contributing to society through the creation of new value with innovative ideas, technologies and products”.

Key KPI’s for AP-Growth TORAY 2020 (to be achieved around 2020)

  • consolidated net sales: YEN 3 trillion (US$ 30 billion)
  • Consolidated operating income: YEN 300 billion (US$ 3 billion)
  • Operating income margin: 10%
  • ROA: 10%
  • ROE: 13%

Toray Industries, Inc. (東レ株式会社) “Innovation by chemistry” (化学による革新と創造) (TSE 3402, LSE TKK)

Toray Industries, Inc. (東レ株式会社) was founded on 12 January 1926 with an investment by Mitsui Bussan. The company was incorporated as Touyou Rayon (東洋レーヨン) on 16 April 1926.

In 1970 the company name was changed to Toray KK (東レ株式会社). Toray is the abbreviation of Touyou Rayon (レーヨン).

Toray’s main business are:

  • fibers and textiles
  • plastics and chemicals
  • IT related products: films, color filters, products for IC production, graphics materials
  • carbon fiber composites
  • environment and engineering: water treatment membranes, materials for housing, environmental equipment
  • life science
  • other: analysis, research related services

Toray builds integrated supply chain in Europe

Through a program of acquisitions, Toray is building an integrated supply chain in Europe:

  • Delta-Tech SpA and Delta-Prepreg SpA
  • Saati SpA’s European carbon fiber fabric and prepreg business, renamed: Composite Materials (Italy) S.r.l., (CIT)
  • Alcantara S.p.A.: Trading activities, manufacture and marketing of ALCANTARA®, unique covering material
  • Toray Carbon Fibers Europe S.A. (CFE): polyacrylonitrile (PAN) precursor
  • Toray Films Europe S.A.S. (TFE)
  • Toray Textiles Central Europe s.r.o. (TTCE)
  • Euro Advanced Carbon Fiber Composites GmbH (EACC): Manufacture and marketing of CFRP parts and components for automobile
  • ACE Advanced Composite Engineering GmbH (ACE)
  • Toray International Europe GmbH (TIEU)
  • Toray Resins Europe GmbH (TREU): Import and sales of resin products
  • Greenery GmbH: Development, manufacturing, and sales of fuel cells and water electrolysis components
  • Toray Membrane Spain S.L. (TMSP): Marketing and consulting of water treatment membranes
  • Toray Membrane Europe AG (TMEu): Importing and Sales of RO membrane element, UF/MF hollow fiber membrane module, and submerged module of flat sheet membrane
  • Toray International U.K. Ltd. (TIUK): trading
  • Toray Textiles Europe Ltd. (TTEL): Weaving and dyeing of polyester filament textiles

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Nikon enters medical sector with offer for acquisition of Optos plc – “The retina company”

Nikon diversifies from digital cameras to medical imaging

Retinal imaging market estimated to grow to US$ 530 million in 2019

Currently 70% of Nikon’s business are digital camera, a rapidly shrinking market due to the popularity of smartphone cameras.

Inspired by SONY‘s investment in medical imaging company Olympus, Nikon diversifies from digital cameras into medical imaging, acquiring the Scottish retinal imaging company Optos plc – “The retina company”.

Nikon is reported to have approached Optos plc in December 2014, but seems to have been rejected.

On February 27, 2015, NIKON Corporation and Optos plc jointly announced the agreement for a recommended cash offer my by NIKON for the entire issued and to be issued share capital of Optos. Details can be found on NIKON’s official website for the Optos offer, where NIKON essentially offers a total of UKL 250.48 million (US$ 387 million) for all shares of Optos.

Optos plc – The retina company

Optos plc was founded by Douglas Anderson in 1992 after his son became blind on one eye, because his retina detachment was diagnosed too late.

Optos plc had IPO on the London Stock Exchange in February 2006. Market capitalization on February 27, 2015 was UKL 250.48 million (US$ 387 million), jumping from approx. UKL 191 million (US$ 295 million) on February 26, 2015.

Optos has a market share of about 30% of the global market for retinal imaging. The global market size of devices for retinal imaging is growing and estimated to become US$ 530 million in 2019.

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Horizon2020 Japan conference at the EU Delegation in Tokyo

European Union EU Horizon 2020

Horizon 2020 Japan conference encourages Japan participation in this R&D and innovation program of the EU

Horizon 2020 Japan: Ambassador Hans Dietmar Schweisgut, welcome

Ambassador Hans Dietmar Schweisgut
Ambassador Hans Dietmar Schweisgut

Horizon 2020 Japan – Yoichiro Matsumoto: Japan’s research needs to go global

(Professor Yoichiro Matsumoto, Executive Vice President, The University of Tokyo)

Professor Yoichiro Matumoto, Executive Vice President, The University of Tokyo
Professor Yoichiro Matumoto, Executive Vice President, The University of Tokyo

Recent situation in Japanese Universities

Japan has shown a lower growth in the publication of papers compared to other countries

Quantity: growth rate of number of papers for the period 2009-2011 compared to 1999-2001:

  • China: +360% growth
  • USA: +28% growth
  • Germany: +28% growth
  • UK: +21% growth
  • France: +28% growth
  • Japan: +3% growth
  • World: +48% growth

Quality: top 10% of papers during the period 2009-2011 compared to 1999-2001:

  • China: +521% growth
  • USA: +26% growth
  • Germany: +68% growth
  • UK: +57% growth
  • France: +61% growth
  • Japan: +16% growth
  • World: +51% growth

Quality: top 1% of papers during the period 2009-2011 compared to 1999-2001:

  • China: +692% growth
  • USA: +28% growth
  • Germany: +99% growth
  • UK: +79% growth
  • France: +99% growth
  • Japan: +39% growth
  • World: +51% growth

Budget:

  • Japanese Universities have suffered a long term budget cut for ordinary operations lasting more than 10 years
  • the ratio of competitive funds have increased rapidly
  • we must change ourselves towards strategic thinking and planning for research, its funding and sustainability

The Science and Technology budget in Japan has been increasing rapidly until 2002, but is stagnating since 2002.

Why is international cooperation in research important

scientific output has grown rapidly and collaboration between institutions in different countries has intensified.
International collaboration papers are likely to get more citation impact.

The challenges facing Japanese research institutions – strategic competition and collaboration

  • we need strategic competition and collaboration among Japanese research institutions for the management to increase their reputation and visibility globally
  • each institution must be more competitive in human and institutional resources, research funds, facilities, student quality, educational performance, global openness, clear vision, efficiency of management…
  • unders those severe and open competition, we can make win-win relations among institutions
  • we need a long-term and bird-view thinking to enhance the sustainability of research and eduction activities in the institution
  • we need global collaboration
  • create sustainable environment for research institutions: secure enough domestic funds for research, get international R&D funds like Horizon2020, enhance the mobility of research
  • boost international exchanges between European institutions and Japanese institutions
  • create network of networks between institutions to discuss our common problems and enhance our activity of research and education

The Royal Society 2011: “collaboration enhances the quality of research, improves its efficiency and effectiveness, and is increasingly necessary as the scale of budgets and research challenges grow”

Horizon 2020 Japan – Anders Karlsson: EU-Japan Science collaboration – a “bird’s eye view” on publication patterns & opportunities for collaboration

(Professor Anders Karlsson, Vice President for Global Academic Relations, Elsevier, Tokyo)

Professor Anders Karlsson,, Vice President for Global Academic Relations, Elsevier, Tokyo
Professor Anders Karlsson,, Vice President for Global Academic Relations, Elsevier, Tokyo

Compound annual growth rate of scientific publications 2009-2013:

  • EU28: +4.9% growth
  • USA: +4.5% growth
  • China: +10.5% growth
  • Korea: +9.5% growth
  • Japan: +1.1% growth
  • world: +4.4% growth

What about the top 10% most cited publications?

  • China overtook Japan for all articles: in 2003/2004
  • China overtook Japan for top 10% articles: in 2006
  • China overtook Japan for top 10% articles in Engineering: in 2003
  • China overtook Japan for top 10% articles in Medicine: in 2010

Horizon 2020 Japan – Maria Cristina Russo: Horizon2020 – the chance to go global

(Maria Cristina Russo, Director for International Cooperation, Directorate-General for Research and Innovation, European Commission)

Maria Cristina Russo, Director for International Cooperation, Directorate-General for Research and Innovation, European Commission
Maria Cristina Russo, Director for International Cooperation, Directorate-General for Research and Innovation, European Commission

Why go global? Why collaborate internationally?

  • all science has become global
  • value chains are internationalized: making alliances, sharing costs, accessing markets, agreeing standards
  • need to address global society challenges together
  • importance for the best EU researchers to cooperate with the best Japanese researchers
  • opportunities for Japanese researchers to participate, and to access big projects with important partners from EU and the world by only paying your researchers
  • importance of building networks: deep relationships with EU and world actors through R&D collaboration

Why chose the EU to “go global”?
500 million people, 28 countries, a single market = free movement of people + goods + services + capital

  • 7% of the world’s population
  • 24% of world research expenditure
  • 32% of high impact publications
  • 32% of patent applications

Some excellent successes:

  • 109 “bottom up” participations by 50 different Japan based organizations in 79 FP7 projects
  • 5 “top down” jointly designed “coordinated calls” resulting in an additional 17 projects (ICT, aeronautics, energy, critical raw materials)
  • successful “support actions”, e.g. CONCERT-JAPAN

Top down coordinated calls:

  • top down: joint identification of key priority areas by EU and Japanese authorities
  • parallel call procedure, parallel evaluation, separate funding – but joint work and joint results
  • worked particularly well in Japan: 5 calls 2011-2013, 17 projects jointly financed, 2 more calls launched or in the pipeline

Unfulfilled potential – participation in EU projects – EU-Japan projects lower than Egypt or Marocco….

  1. Russia: 495
  2. USA: 476
  3. China: 321
  4. India: 253
  5. South America: 222
  6. Brazil: 206
  7. Ukraina: 185
  8. Canada: 181
  9. Australia: 177
  10. Mexico: 110
  11. Marocco: 110
  12. Japan: 109
  13. Egypt: 108
  14. Argentina: 99
  15. Korea: 65

Some key questions:

  • why is overall Japanese participation in EU research programs so modest compared with key international partners?
  • what can be done to improve participation of Japanese research entities (public and private) in the future?
  • what are the bottlenecks and obstacles?
  • what are the best approaches? top down? or bottom up?

Horizon2002: a paradigm shift

  • Globally the biggest research and innovation funding program: over EURO 80 billion budget over 7 years
  • The only part of the EU budget to increase (+30% over the previous program)
  • the most open program in the world, international cooperation at its core
  • challenge based approach, multi sector activities to address global society challenges
  • stressing innovation: from lab to market
  • faster, simpler, less red tape

Three ways to participate:

  1. General opening: any international partner may participate
  2. Targeted opening: in specific topics in calls for proposals including of international partners may be: (a) encouraged, (b) required
  3. Coordinated calls: used for specific actions, paired calls, linked evaluations, two separate contracts

How to get involved?

  1. find a relevant call
  2. find partners
  3. submit a proposal
  4. get involved!
Maria Cristina Russo, Director, International Cooperation, Directorate-General for Research & Innovation, European Commission
Maria Cristina Russo, Director, International Cooperation, Directorate-General for Research & Innovation, European Commission

Horizon 2020 Japan – Kazushi Watanabe: Experience of international collaboration. FP7 project: Surface heat exchangers for aero-engines

(Kazushi Watanabe, General Manager, Business Development, Sumitomo Precision Products, Aerospace & Defense)

EU-Japan collaboration project: Advanced Structural Surface Cooler (ASSC), a component for turbines.

EU funded the research at INEGI (Instituto de Engenharia Mecanica Gestao), Rolls-Royce, GKN Aerospace Sweden AB, SICOMP (Swerea Sicomp AB)
METI funded research at Sumitomo Precision Products (SPP), and SPP subcontracted part of the research to the University of Tokyo

In addition there is a Research agreement between Rolls-Royce and SPP

One attraction of this research project for SPP is that there are not many turbine manufacturers in Japan, and this research project opened new markets for SPP products.

Kazushi Watanabe, General Manager, Business Development, Sumitomo Precision Products, Aerospace & Defense
Kazushi Watanabe, General Manager, Business Development, Sumitomo Precision Products, Aerospace & Defense

Naoto Kobayashi: FP7 project and internationalization of research at Waseda University

(Naoto Kobayashi, Center for Research Strategy, Waseda University)

FP7 projects at Waseda University:

  • Capsil Project (April 1, 2008 – March 31, 2010)

    • International support of a common awareness and knowledge platform for studying and enabling living
    • Professor Shuji Hashimoto (Faculty of Science and Engineering), 理工学術院 橋本周司教授
    • Total budget: EURO 587,150
  • RoboSoM Project (December 1, 2009 – May 31, 2013)

    • A Robotic Sense of Movement
    • Professor Atsuo Takanishi (Faculty of Science and Engineering), 理工学術院 高西淳夫教授
    • Total budget: EURO 1,659,000
  • GR:EEN Project (March 1, 2011 – February 28, 2015)

    • Global Re-ordering: Evolution through European Networks
    • Professor Shujiro Urata (Faculty of International Research and Education), 国際学術院 浦田秀次郎教授
    • Total budget: EURO 7,944,718
Professor Naoto Kobayashi, Center for Research Strategy, Waseda University
Professor Naoto Kobayashi, Center for Research Strategy, Waseda University

Yoichi Iida, Japan-EU cooperation in civil aeronautics industry

(Yoichi Iida, Director, Aerospace and Defense Industry Division, Manufacturing Industries Bureau, METI)

Yoichi Iida, Director, Aerospace and Defense Industry Division, Manufacturing Industries Bureau, METI
Yoichi Iida, Director, Aerospace and Defense Industry Division, Manufacturing Industries Bureau, METI

Agreement between the Government of Japan and the European Community on Cooperation in Science and Technology.

2012-2013:
1st Working Group
SUNJET, concluded in October 2012
Call 5 Projects: SHEFAE, JEDI ACE and HIKARI to concluded early 2016

March 2014: 2nd working group: discussion on next cooperation projects

from 2015:
Working Group
NEXT Projects (Horizon2020)
Future Projects (support action)

Lessons learnt from FP7:

  • Complicated framework of agreements: IP treatment between Japanese companies and European Commission, dispute settlement process
  • different timing of budgets

For Horizon2020 the structure of cooperation projects will be:

  1. Grant agreement between the Japanese Government and Japanese participants
  2. Grant agreement between the European Commission and European participants
  3. Coordination agreement between Japanese participants and European participants

Horizon 2020 Japan – Satoru Ohtake: closing remarks

(Satoru Ohtake, Senior Executive Director, Science and Technology Agency)

Satoru Ohtake, Senior Executive Director, Science and Technology Agency
Satoru Ohtake, Senior Executive Director, Science and Technology Agency

Copyright·©2014 ·Eurotechnology Japan KK·All Rights Reserved·

Hitachi “inspire the next” Europe opens Rail Research Centre (ERRC)

Hitachi Inspire the Next

European Rail Research Centre (ERRC) to focus on rolling stock design, manufacturing, maintenance and traffic management systems

ERCC will be part of Hitachi Europe’s Transportation Energy & Environment Research Laboratory

Hitachi “inspire the next” announced on October 10, 2012 the opening of the new European Rail Research Centre (ERRC) in London, to support Hitachi’s many rail projects in Europe and globally.

Hitachi’s new European Rail Research Centre (ERRC) will conduct research into:

  • rolling stock design
  • manufacturing
  • maintenance
  • traffic management systems

Hitachi Rail Europe recent orders

  • UK Department for Transport’s Intercity Express Programme (IEP): 225 km/h Super Express Trains (SETs) to be financed, supplied and maintained by Agility Trains. Total number of trains: 122 trains
  • UK Network Rail Infrastructure Limited (“Network Rail”): prototype Traffic Management System

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Landis+Gyr acquired by Toshiba and The Innovation Network Corporation of Japan (INCJ)

Toshiba

Landis+Gyr to become “independent growth platform” within the Toshiba Group for smart meters and smart grid

Landis+Gyr acquired by Toshiba (60%) and Innovation Network Corporation of Japan (40%) for US$ 2.3 billion

Landis+Gyr acquired by Toshiba and The Innovation Network Corporation of Japan: this acquisition was finalized with a shareholder’s and share purchase agreement between Toshiba and INCJ and Landis+Gyr, announced on 25 July 2011.

Initially, on 19 May 2011, Toshiba had announced the 100% acquisition of Landis+Gyr by Toshiba alone for US$ 2.3 billion including assumption of debt. Apparently, The Innovation Network Corporation of Japan entered this partnership sometime between May and July 2011 as an additional investor.

Toshiba established a Special Purpose Vehicle (SPV):

  • Toshiba invests: US$ 1.02 billion corresponding to 60% of equity
  • INCJ invests: US$ 0.680 billion corresponding to 40% of equity

In addition, Toshiba assumed Landis+Gyr’s net debt of US$ 600 million, thus the total cost to Toshiba is:

  • 60% equity in SPV: US$ 1.02 billion
  • assumption of Landis+Gyr net debt: US$ 0.6 billion
  • total acquisition cost to Toshiba: US$ 1.62 billion

The Innovation Network Corporation of Japan (INCJ) invested US$ 680 million into this SVP, acquiring 40% of the SVP’s equity.

Landis+Gyr – “manage energy better”

Landis+Gyr was founded in 1896 as Elektrotechnisches Institut Theiler & Co in Zug, Switzerland by Richard Theiler. In 1904, Richard Theiler appointed the engineer Heinrich Landis as his successor. Heinrich Landis partnered with Dr. Karl Heinrich Gyr in 1905, and the company changed its name to Landis & Gyr in 1905.

In 1998 Landis & Gyr was acquired by Siemens, and then again spun out in 2002 with the new version of the company name: Landis+Gyr.

Landis+Gyr produces smart meters, smart grid equipment and related technology and services, with the mission to “manage energy better”.

Landis+Gyr’s customers are mainly energy, gas and electricity utility companies throughout the world for their smart meter and smart grid networks.

The Innovation Network Corporation of Japan (INCJ)

The Innovation Network Corporation of Japan (INCJ) is an investment fund established on 27 July 2009 as a public-private partnership between the Japanese Government and 26 major Japanese corporations temporarily for 15 years.

Investment capability:

  • Capitalization: YEN 300 billion (=approx US$ 3 billion)
    • Japanese Government: YEN 286 billion
    • 26 corporations: YEN 14 billion
  • Japanese Government guarantees: YEN 1800 billion (=approx US$ 18 billion)
  • Total investment capability: YEN 2100 billion (=approx US$ 21 billion)

INCJ has made a range of investments, the largest investment (YEN 200 billion = approx. US$ 2 billion) is in Japan Display.

In addition to the Japanese Government, 26 investors (total YEN 14 billion) are:

  • Asahi Kasei Corporation
  • Canon Inc.
  • Osaka Gas Co., Ltd.
  • Sharp Corporation
  • The Shoko Chukin Bank, Ltd.
  • Sumitomo Chemical Co., Ltd.
  • Sumitomo Corporation
  • Sumitomo Electric Industries, Ltd.
  • Sony Corporation
  • Takeda Pharmaceutical Company Limited
  • Toshiba Corporation
  • TOYOTA MOTOR CORPORATION
  • JGC Corporation
  • Development Bank of Japan Inc.
  • Panasonic Corporation
  • East Japan Railway Company
  • Hitachi, Ltd.
  • Marubeni Corporation
  • Mizuho Bank, Ltd.
  • Sumitomo Mitsui Banking Corporation
  • Mitsubishi Chemical Holdings Corporation
  • Mitsubishi Heavy Industries, Ltd.
  • Mitsubishi Corporation
  • The Bank of Tokyo-Mitsubishi UFJ, Ltd.
  • GE Japan Corporation
  • JX Nippon Oil & Energy Corporation

Toshiba

Toshiba is one of Japan’s eight top electronics group, which we analyze in our report “Japan’s electronics industries: mono zukuri

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Cambridge Display Technology (CDT) acquired by Sumitomo Chemical

Sumitomo Chemical to acquire CDT for US$ 285 million in cash

Sumitomo Chemical (住友化学株式会社) acquired Cambridge Display Technology (CDT) under a merger agreement, paying an acquisition price of US$ 285 million in cash.

  • 1998: Sumitomo Chemical starts P-OLED development
  • 2001: Sumitomo Chemical and CDT Ltd (fully owned subsidiary of CDT Inc) enter into a cooperation agreement including technology licensing
  • May 2002: Sumitomo Chemical makes an equity investment in CDT Ltd
  • November 2005: Sumitomo Chemical established joint-venture SUMATION Co Ltd together with CDT Ltd for the development, manufacture and sales of P-OLED materials
  • 2007: Sumitomo Chemical acquires CDT

Cambridge Display Technology (CDT)

Cambridge Display Technology (CDT) is based largely on Professor Sir Richard Friend’s and his team’s inventions and developments of polymer light emitting diodes (P-OLEDs).

CDT before acquisition was established in 1999, traded on NASDAQ (OLED), and sales in 2009 were US$ 8 million, and employed 130 people.

CDT holds many patents and intellectual property in the field of P-OLEDs.

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Asahi Kasei Fibers Corporation acquires Dorlastan fibers business from Lanxess

Lanxess continues refocussing following spin-out from Bayer

Textiles business moves to Asia

On 17 November 2005, Lanxess (Köln, Germany) and Asahi Kasei Fibers Corporation (Osaka, Japan) announced the planned sale of Lanxess’ Dorlastan business to Asahi Kasei Fibers Corporation.

Lanxess’ Dorlastan division includes production sites at Dormagen, Germany, and in Bushy Park, South Carolina, USA:

  • Dormagen (Germany): currently 280 employees, 170 to be transferred to Asahi Kasei Fibers Corp.
  • Bushy Park (South Carolina, USA): currently 190 employees, 160 to be transferred to Asahi Kasei Fibers Corp.

Lanxess

Lanxess was founded in 2004 as a spin-out from Germany’s chemical giant Bayer, and includes some of Bayer’s former chemicals and polymers divisions.

Lanxess focuses on manufacturing and marketing plastics, rubber, intermediates and speciality chemicals.

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