LITE-ON proposes to acquire 100% of LOJ through tender offer to integrate group resources and synergies

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Press Releases

2019/06/03

LITE-ON Technology Corporation (“LITE-ON”; stock code: 2301, Taiwan Stock Exchange) announced today its Board has approved to acquire all outstanding shares of LITE-ON Japan Ltd. ("LOJ"; stock code: 2703, JASDAQ) through a tender offer in Japan JASDAQ market. The offer period commences on June 4, 2019 and closes on July 16, 2019. LOJ will become LITE-ON 100% owned subsidiary after the successful completion of the transaction and subsequent process in accordance with the applicable Japan Security and Corporate Law. There is no tangible plan to change the operational and management structure of LOJ currently.

LITE-ON currently owns 49.49% of all issued shares of LOJ directly, while SILITECH Technology Corporation (stock code: 3311, Taiwan Stock Exchange) and LITEO-ON Semiconductor Corporation (stock code: 5305, Taiwan Stock Exchange), LITE-ON's affiliates, both own 7.87% stake in LOJ respectively. The transaction does not set up condition for minimum tendering shares and LITE-ON intends to acquire up to 6,289,529 shares for JPY240 per share, and the total transaction size will be up to JPY1,509,486,960. If there are remaining outstanding shares of LOJ at the completion of the tender offer, LITE-ON intends to implement the squeeze-out or share consolidation procedure under the Companies Act of Japan, thereby acquiring 100% of the outstanding shares of LOJ.

“In response to the fast-changing industrial environment around the globe, we’ve been streamlining and staying focused on LITE-ON’s core business scope and segments, that continuously enhances group’s competency and operational efficiency, furthermore maximizes the overall corporate value of LITE-ON as well as the long-term interests of our shareholders, clients and employees’” said Warren Chen, LITE-ON Vice Chairman and Group CEO.

LOJ, founded in 1985, provides the electronic components and power related products, as well manufactures modules for the OEM and ODM customers, with 367 employees. Meanwhile, LOJ is LITE-ON’s consolidated subsidiary and there’s no significant financial impact from this transaction.

Press Contact:

Julia Wang, Sr. Director of IR/PR +886-2-8798-2888

LITEONtech.IR@liteon.com