OREANDA-NEWS. As previously announced in the press release “TDK and Renesas Electronics Sign Basic Agreement on Transfer of Renesas Electronics Subsidiary's Tsuruoka Factory,” dated November 30, 2015, Renesas Electronics Corporation (“Renesas Electronics”, TSE: 6723), and Renesas Semiconductor Manufacturing Co., Ltd. (“Renesas Semiconductor Manufacturing”), a wholly owned subsidiary of Renesas Electronics, have been working with TDK Corporation (“TDK”, TSE: 6762) and TDK Shonai Corporation, a wholly owned subsidiary of TDK, to further agree on terms and conditions of transferring Renesas Semiconductor Manufacturing's Tsuruoka Factory to TDK, and today they announced that the four companies signed a definitive agreement on April 28, 2016.

Based on the definitive agreement, the parties continue to work cohesively to complete the transaction targeting the end of March 2017.

Overview of Tsuruoka Factory

Name : Renesas Semiconductor Manufacturing Co., Ltd., Tsuruoka Factory
Address : 1-14-38 Takarada, Tsuruoka, Yamagata Pref. 997-8523
Established : June 22, 1964
Representative : Toshihide Kobayashi (Vice President)
Major operations : Manufacture of system LSIs, ICs, transistors, etc.
Employees : Approx. 270 (as of end of October, 2015)

About Renesas Electronics Corporation

Renesas Electronics Corporation (TSE: 6723), the world's number one supplier of microcontrollers, is a premier supplier of advanced semiconductor solutions including microcontrollers, SoC solutions and a broad range of analog and power devices. Business operations began as Renesas Electronics in April 2010 through the integration of NEC Electronics Corporation (TSE:6723) and Renesas Technology Corp., with operations spanning research, development, design and manufacturing for a wide range of applications. Headquartered in Japan, Renesas Electronics has subsidiaries in approximately 20 countries worldwide.