TDK to Sell to Wanbang Electronic

TDK to close its semiconductor business

TDK Corporation announced that it has signed an agreement to sell its semiconductor business to Wanbang Electronic for approximately $500 million.

The deal is expected to close in the first half of 2023, subject to regulatory approvals.

TDK said that the sale is part of its efforts to focus on its core businesses of electronic components, materials, and energy devices.

Wanbang Electronic is a Chinese company that manufactures semiconductors for a variety of applications, including automotive, industrial, and consumer electronics.

The acquisition of TDK's semiconductor business will give Wanbang Electronic a significant boost in its efforts to become a major player in the global semiconductor market.

TDK's semiconductor business has been struggling in recent years

The company has been facing competition from larger rivals such as Samsung and Toshiba, and its market share has been declining.

In 2022, TDK's semiconductor business reported a loss of $100 million.

The sale of the semiconductor business will allow TDK to focus on its more profitable businesses.

Wanbang Electronic is a growing company

The company has been investing heavily in its semiconductor business in recent years, and it has been gaining market share.

In 2022, Wanbang Electronic reported a profit of $200 million.

The acquisition of TDK's semiconductor business will give Wanbang Electronic a significant boost in its efforts to become a major player in the global semiconductor market.