Strengthening of Semiconductor Manufacturing Equipment Business in China

-Aiming to build stronger relationships by locating development site closer to customers-

September 21, 2021

 TOWA Corporation (hereinafter “TOWA”) is planning to establish a new company that specializes in technology development in order to strengthen its business activities further in China. And please be informed that TOWA held a signing ceremony for the establishment of the new company together with the Suzhou Industrial Park Administrative Committee on September 16on-site (Jiangsu Province, China).
 The outline of the new company is as follows.



1. Objectives of Establishing New Company

 China is now the world's largest market for semiconductor manufacturing equipment, and the scale of the market is expanding more and more as the demand for semiconductors is increasing.TOWA regards China as an important region and so far enlarged its factories, built new factories, and implemented M&A (mergers and acquisitions) in China. As a result, TOWA could expand its production capacity and also could establish a system that customers can enjoy total support from design and production of semiconductor manufacturing equipment to sales and after-sales service just in China.
 Currently, China is urging domestic production of semiconductors. The pace of technology development is very rapid and customers’ needs change on a daily basis. To respond to the customers’ needs quickly, TOWA establish the development base close to them. By providing more flexible and higher quality services such as laboratory functions with the latest equipment and TOWA's support for prototyping and evaluation from the customers’ development stage, TOWA aims to build stronger relationships with the customers than ever before.

2. New Company’s Overview

  1. Name: TOWA R&D Suzhou Co., Ltd <Tentative name>
  2. Address: No.88 Dong Chang Road, Suzhou Industrial Park, Suzhou, Jiangsu Province, China
  3. Investor: 100% owned by TOWA Corporation
  4. Paid-in Capital: US$ 3 million
  5. Name of representative: Hirokazu Okada (Chairman)
  6. Number of employees: Approximately 50
  7. Business activities: Development and design of semiconductor manufacturing equipment and precision molds, prototyping and evaluation of semiconductor packages
  8. Date of incorporation: Beginning of October, 2021 <Scheduled>

Ms. Liu hua, Vice Chairman of Suzhou Industrial Park CPC Working Committee
and Suzhou Industrial Park Administrative Committee

Mr. Hirokazu Okada, President and CEO of TOWA Corporation (attended online)