Ministry of Economy, Trade and Industry
  • Font Size Change
  • S
    M
    L

    Authorization of a Business Restructuring Plan Submitted by Socionext Inc. under the Industrial Competitiveness Enhancement Act

    On February 27, 2015, the Ministry of Economy, Trade and Industry (METI) authorized a business restructuring plan submitted by Socionext Inc., pursuant to Article 24, paragraph (1), of the Industrial Competitiveness Enhancement Act.

    According to the plan, the company will acquire the design and development departments as well as the related properties for semiconductor integrated circuits (LSIs) business, called the system LSI business, from Fujitsu Semiconductor Ltd., Fujitsu VLSI Ltd., Fujitsu Microelectronics Solutions Ltd., and Panasonic Corporation, and it will be funded by Development Bank of Japan Inc. and Panasonic Corporation.

    Through conducting the efforts in the plan, the company will converge management resources owned by the respective companies for entering markets with high growth potential, and will exercise its strength to the maximum extent possible. By doing so, the company will aim to further enhance its corporate value.

    1. Authorization of the business restructuring plan

    METI examined the business restructuring plan submitted by Socionext Inc., pursuant to Article 24, paragraph (1), of the Industrial Competitiveness Enhancement Act, concluded that the company satisfied the requirements specified by said Act as an entrepreneur who is to carry out a business restructuring defined by Article 2, paragraph (11), of said Act, and authorized the plan.

    Following the authorization, the company requests a reduction of the registration and license tax related to the capital increase and the registration of transfer of real property achieved by receiving the transferred business and the third-party allotment for the purpose of improving its financial structure.

    2. Implementation period

    From March 2015 to March 2017

    3. Applicant’s profile

    Name: Socionext Inc.
    Representative: Yasuo Nishiguchi, Chairman and CEO
    Head office: 2-10-23, Shin-Yokohama, Kohoku Ward, Yokohama City, Kanagawa Prefecture

    Reference

    For details of the Act and the related support measures, please visit the following website:
    http://www.meti.go.jp/english/policy/economy/industrial_competitiveness_act/index.html

    Release date

    March 2, 2015

    Division in charge

    Information and Communication Electronics Division, Commerce and Information Policy Bureau

    Ministry of Economy, Trade and Industry
    1-3-1 Kasumigaseki, Chiyoda-ku, Tokyo 100-8901, Japan Tel: +81-(0)3-3501-1511
    Copyright Ministry of Economy, Trade and Industry. All Rights Reserved.