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- Mitsui & Co., Ltd.
Corporate Communications Division
Mitsui & Co., Ltd. ("Mitsui", head office : Chiyoda-ku, Tokyo, President and CEO : Masami Iijima) has agreed to invest in Formosa Epitaxy Incorporation ("FOREPI"), listed in Taiwan Stock Exchange, with the goal to enter into LED ("Lighting Emitting Diode") business area. Mitsui and FOREPI today announced the signing of a share subscription agreement, under which Mitsui will subscribe through a private placement for new FOREPI shares. Mitsui is to acquire approx. 15% of the shares of FOREPI in February 2011 through this investment. The transaction is subject to regulatory approval.
In response to the increasing interest in reduction of environmental burden, LED industry has been rapidly growing for the past years as LEDs have been widely used in handset keypad, monitor, and TV backlight application. In addition, general lighting application, such as street lighting, is expected to sustain the future growth of the LED industry. Global LED market size in end product market is expected to grow by 41% annually, from USD 10 billion in 2009 to USD 78 billion in 2015.
Founded in 1999, FOREPI is a leading LED epitaxy and chip manufacturer worldwide and the second largest company in Taiwan and handles approximately 5% of LED chip shipping in global market.
In the current Mitsui's Medium-Term Management Plan (for Fiscal Year ending 2011/3 and 2012/3), Mitsui has identified non-resource business, especially developing new business in industrial solution to environmental protection. Mitsui aims to create new value by consolidating the resources along the LED supply chain.
|Company name||Formosa Epitaxy Incorporation|
|Head office||Taoyuan, Taiwan|
|Representative||Chairman : Dr. Feng-Jen Chien|
|Employees||757 (As of September, 2010)|
|Sales||JPY 5.9 billion (Fiscal year ended December 31, 2009)|
|Capital||JPY 11 billion (Before Mitsui's private offering)|
|Main businesses||Manufacturing, sales of LED wafer and chip|
|Main plant location||Taoyuan, Taiwan and Yangshou, Jingu province, China|
|Mitsui's shareholdings||approx. 15% (Largest shareholder)|
|Mitsui's investing amount||TWD 2.7 billion (approximately JPY 7.6 billion)|
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