Establishing Two Joint Venture Companies for the Manufacture of Planar Lightwave Circuits and Optical Semiconductors
TOKYO--December 22, 2016-- Furukawa Electric Co., Ltd. (President: Mitsuyoshi Shibata; hereinafter, Furukawa Electric) announces that it has reached an agreement with NTT Electronics Corporation (President and Chief Operating Officer:Kazuo Hagimoto; hereinafter, NTT Electronics) to establish two joint venture manufacturing companies for planar lightwave circuits and optical semiconductors.
The need for stable and efficient supply capability of optical components has increased in response to the demand created by rapid growth in cloud services.
Furukawa Electric and NTT Electronics seek to create stable product supply capabilities for planar lightwave circuits and optical semiconductors by promoting efficient use of both companies’ manufacturing resources and by strengthening their business continuity plans.
New Company Overview
|Company Name||NTT Electronics Optech Corporation||Furukawa FITEL Optical Device Co., Ltd.|
|Business Overview||Planar Lighwave Circuit Manufacture||Optical Semiconductor Manufacture|
|Capital||JPY100 million||JPY100 million|
|Investment Ratio||NTT Electronics:80%
|Location||Ibaraki Prefecture, Naka-shi, To 6700-2||Chiba Prefecture, Ichihara-shi, Yawata-Kaigandori 6|
|Operation Start||April 2017 (Anticipated)||April 2017 (Anticipated)|
|Representative||To Be Determined||To Be Determined|
About Furukawa Electric Group
Furukawa Electric (TSE; 5801, ISIN; JP3827200001) Group started business in 1884, when its copper-smelting facility and wire manufacturing factory was established. Since then Furukawa Electric has become pioneers in the latest technologies by addressing diverse technological issues. Furukawa Electric has released products in a number of areas, including telecommunications, electronics, automobiles, and construction, with the three types of materials it works with at their core, namely, optics, plastics, and metals. Many of these products have attained the top global market share, and all of its products have contributed to society in numerous business areas. Furukawa Electric reported consolidated revenues of JPY 874.9 billion (approximately USD 8.0B) for the fiscal year ended March 31, 2016.