Juki Corporation and Sony Corporation announced today that they signed a legally non-binding memorandum of intent to carry on the discussion regarding the possible integration of the surface-mount technology equipment and related businesses of Juki and Sony EMCS Corporation, a wholly owned subsidiary of Sony (“Sony EMCS”), under a newly established company. This integration is intended to strengthen the competitiveness of each company’s respective SMT equipment and related businesses. The new company is expected to be established by capital injection from Juki and Sony, respectively, with Juki holding more than two thirds of the total shares.
Both companies will continue further discussions with the aim of entering into a legally binding definitive agreement and proceeding with this business integration by the end of September, 2013, subject to any necessary approvals of the authorities concerned.
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