Nichia and Citizen Electronics Strengthen White LED Business Cooperation

[High-tech LED News] Citizen Holdings (hereinafter referred to as Citizen HD), a global LED LED manufacturer, announced that Citizen Electronics, a subsidiary of its LED business, will establish a Japanese LED industry, Nichia Chemical Industry Co., Ltd. (hereinafter referred to as Nichia). Capital/business partnership to strengthen cooperation between the two white LED businesses.

In the capital cooperation part, Nichia will subscribe for new shares issued by Citizen Electronics on April 2, 2012. The new shares will be issued at 2 billion yen, accounting for 5% of Citizen Electronics' overall equity.

In addition, in the business cooperation part, Citizen Electronics and Nichia will jointly develop LED package/component products that can meet market demands, and will jointly construct new manufacturing technologies; secondly, the two parties will jointly reduce materials by jointly purchasing materials; Nichia will expand its OEM orders for Citizen Electronics to release white LEDs.

It is understood that Citizen Electronics signed a manufacturing patent licensing contract with Nichia in 2002 to help Japanese OEMs produce white LEDs in the form of OEMs. Citizen HD has held capital partnerships with Nichia in 2007. Citizen HD holds a 3.7% stake in Nichia and Nichia holds a 2.9% stake in Citizen HD.

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