Taipei: Taiwan-based Yageo Corp., the world’s third largest maker of multilayer ceramic capacitors (MLCC), announced it has completed a tender offer for Japan’s Shibaura Electronics Co., with plans to fully integrate the Japanese firm by the first quarter of 2026.
According to Focus Taiwan, Yageo achieved an acceptance rate of 87.3 percent by the Monday deadline, surpassing the necessary 50.01 percent threshold. Shibaura, a maker of negative temperature coefficient (NTC) thermistors, will undergo further share acquisition by Yageo as per Japanese securities rules, making Shibaura a subsidiary by the first quarter of the next year.
Reports from Japanese media indicate that following the acquisition, Shibaura will be delisted from the stock market. Yageo aims to expand its NTC thermistor business through this acquisition, enhancing its global competitive position.
According to Yageo, support will be provided to Shibaura to bolster production in Japan. Shibaura is anticipated to leverage Yageo’s extensive marketing network to increase its market share globally, particularly in the Americas and Europe.
Yageo regards this acquisition as a significant step in its global strategy within the electronics components industry, emphasizing its dedication to long-term investment in Japan.
The tender offer was initially launched on May 9, with Yageo offering 6,200 Japanese yen per share, which was a 14.8 percent increase from a prior offer. This came in response to a competing bid from Japanese company MinebeaMitsumi Inc.
The bid war led Yageo to raise its offer to 6,635 yen on August 21 and subsequently to 7,130 yen on August 23. Shibaura endorsed Yageo’s offer after the Taiwanese firm obtained foreign direct investment clearance from Japanese authorities on September 2.
Yageo, founded in 1977, has a history of growth through acquisitions, including the purchase of U.S.-based Pulse Electronics Corp. in 2018 and American company Kemet Corp. in 2020. In 2023, Yageo acquired Schneider Electric’s Telemecanique Sensors to enhance its specialty electronic component business.
Globally, Yageo employs over 40,000 people, operates 61 production sites across 35 countries, and maintains 20 research and development centers.