Shearman & Sterling is representing Macnica, Inc. (“Macnica”) and Fuji Electronics Co., Ltd. (“Fuji Electronics”) in their planned integration under a joint holding company that will be listed on the Tokyo Stock Exchange. The combined market value of their issued shares as of the announcement date was approximately US$733 million. The transaction is subject to, among other things, approval by the shareholders of both companies.
Macnica was established in 1972 as a technology-focused distributor of imported semiconductors. It has expanded its line of products with a primary emphasis on those products where technical support is critical, such as FPGAs (a type of IC where a user can program the circuit after manufacturing).
Fuji Electronics has developed its business since its establishment in 1970 as a distributor specializing in foreign semiconductors (mainly analog semiconductors) as the “best choice” to satisfy the needs of customers without being bound by the business groupings of manufacturers.
The Shearman & Sterling team includes counsel Toshiro Mochizuki (Tokyo-Capital Markets) and associate Yuko Ohba (Tokyo-Mergers & Acquisitions).