Yageo Corp (國巨) shareholders yesterday approved the company’s acquisition of Chilisin Electronics Corp (奇力新), completing the last missing piece of the company's passive component lineups.
Chilisin is the biggest maker of inductors in Taiwan, with about 75 percent of its revenue from sales of the products.
Yageo focuses on making other passive components, including multilayer ceramic capacitors (MLCC), tantalum capacitors and chip resistors. It is the world’s third-largest supplier of MLCCs.
Photo: CNA
The takeover — which shareholders approved at an extraordinary meeting in New Taipei City’s Sindian District (新店) — would allow Yageo to provide one-stop shopping for customers, Yageo said in a statement.
It would also allow the firm to align with supply chain optimization efforts spearheaded by clients over the past few years, it said.
Based on an agreement signed in June, each Chilisin share is to be swapped for 0.2002 common shares of Yageo, the firms said in respective filings with the Taiwan Stock Exchange.
Chilisin is expected to contribute 15 percent of Yageo’s overall revenue after the transaction is completed on Dec. 30.
In a separate statement, Yageo said that revenue rose 0.4 percent to NT$9.8 billion (US$354.14 million) last month from NT$9.77 billion in July, the highest in about 35 months.
On an annual basis, revenue expanded 34.4 percent from NT$7.3 billion, it said.
In the first eight months of the year, Yageo’s revenue surged about 87.99 percent to NT$71.04 billion, compared with NT$37.79 billion in the same period last year.
“Although the company was affected by ups and downs in foreign exchange rates and persistent shortages of IC components, it still maintained revenue growth amid stable customer demand,” it said.
Looking forward, as the world is still struggling to curb the COVID-19 pandemic, uncertainty remains high, Yageo said.
While customers from the automotive segment have seen shipments delayed due to a scarcity of IC components, overall order momentum is expected to be steady and positive, the company said, adding that it would do its best to meet demand.
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