UMC board approves acquisition of MIFS Fab

United Microelectronics Corporation (NYSE: UMC; TWSE: 2303), a global semiconductor foundry, has announced that its board of directors has approved for the company to fully acquire Mie Fujitsu Semiconductor Limited (MIFS), a 12-inch wafer foundry based in Mie, Japan, from Fujitsu Semiconductor Limited, the company said.

Based on the net value of MIFS on March 31, 2018, the purchase value will be no more than ¥ JPN 57.63 billion. UMC currently owns 15.9% of MIFS shares. Under the terms of the agreement, Fujitsu Semiconductor will transfer the remaining 84.1% of its shares in MIFS to UMC, making MIFS a wholly owned subsidiary.

UMC´s board of directors also approved plans for the company to apply with the China Securities Regulatory Commission for UMC´s mainland operations to be listed on the Shanghai Stock Exchange as an A-list offering. HeJian Technology (Suzhou) Co. will represent UMC´s China businesses, which include HeJian´s 8″ fab, United Semi and its 12″ fab in Xiamen and Shandong-based UDS, which provides IC design support services.

Listing of A-shares to provide a more diversified source of local funds improves the company´s financial structure and strengthens the company´s asset and capital positions, while allowing more capital to remain in Taiwan. As part of the listing, UMC can also attract and retain top local talent through implementation of an Employee Stock Ownership Program (ESOP).

UMC is a global semiconductor foundry that provides advanced IC production for applications spanning every major sector of the electronics industry. The company employs over 20,000 people worldwide, with offices in Taiwan, China, Europe, Japan, Korea, Singapore, and the United States. UMC can be found on the web at