May 3, 2012 — Nitto Denko Corporation approved a transfer of its Nitto Electronics Kyushu Corporation (Japan) and Nitto Denko Electronics (Malaysia) Snd. Bhd. businesses, as well as personnel, other assets, and properties related to its semiconductor encapsulating materials business, to Hitachi Chemical Co. Ltd.
The transfer price was set at 5.4 billion yen, subject to change depending on asset, liability, and exchange rate conditions. The deal was first brokered in March 2012.
The semiconductor encapsulant business, excluding optoelectronics encapsulants, is focused on transfer molds, has a