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ROHM Co., Ltd. announced it is reviewing strategic options to strengthen its long-term competitiveness, including evaluating a proposal from DENSO Corporation regarding a potential share acquisition.
The company highlighted that the power semiconductor industry is entering a critical phase, characterized by intensifying global competition and rapid technological innovation. In response, ROHM is pursuing structural reforms under its Medium-Term Management Plan (announced November 2025), focusing on portfolio optimization, enhanced R&D capabilities, and potential scale expansion through partnerships or integration.
As part of this broader strategy, ROHM has been in ongoing discussions since mid-2024 with Toshiba Corporation and Japan Industrial Partners to explore collaboration opportunities in semiconductors. These discussions remain active and are being evaluated alongside other strategic alternatives.
The newly received proposal from DENSO represents a different strategic direction compared to ROHM’s current standalone transformation plan. To ensure an objective evaluation, the company has established a special committee composed of independent directors to assess the proposal against other options, with a focus on long-term corporate value and shareholder interests.
Importantly, ROHM emphasized that no decision has been made by either the Board or the special committee at this stage. The company also noted concerns from business partners regarding operational continuity amid media speculation, reaffirming its commitment to stable supply, product quality, and ongoing operations.
From a market perspective, this development underscores increasing consolidation pressure within the power semiconductor ecosystem—particularly in automotive and electrification segments—where scale, vertical integration, and close OEM relationships are becoming critical competitive factors.
Original – ROHM
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Vishay Intertechnology, Inc. announced that it has been honored by DENSO, a leading mobility supplier, with a 2025 North America Business Partner Award in the Value Leader category.
DENSO’s Business Partner Awards are given to companies that demonstrate exceptional supplier partnership in such areas as quality, service, technology, value, and sustainability. Vishay earned a Value Leader Award for consistently proposing innovative components that enhance DENSO’s designs, while providing exceptional supplier support.
“With all the change currently facing our industry, we must remain flexible and resilient to deliver for our customers,” said Kim Buhl, vice president of the North America Purchasing Group at DENSO. “We can only do this with the help of our suppliers. So, this year, as we congratulate those who have performed exceptionally in creating new value for DENSO, we also thank our entire supplier network. We call on each partner to continue to take on new challenges, and opportunities, with us as we strive to contribute to a better world.”
“It’s a tremendous honor to receive the 2025 Value Leader Award from DENSO — a recognition that underscores the strength of our customer-first collaboration,” said Bill Boldt, senior vice president of sales and marketing, Americas, at Vishay. “This award reflects our growth-driven commitment to innovation and to building strategic partnerships that help customers succeed, even amid today’s market uncertainties. We’re proud to support DENSO’s mission to advance cleaner, safer mobility and are ready to meet the growing demand for our components.”
Original – Vishay Intertechnology
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DENSO, a leading mobility supplier, recognized Infineon Technologies AG with a 2025 North America Business Partner Award in the Value Leader category at its annual North America Business Partner Convention (NABPC). During the event, DENSO brought together approximately 150 supplier representatives from across North America to recognize 15 exceptional business partners.
“We are honored to be recognized by DENSO as an exceptional business partner in 2024,” says Andrew Hunter, Regional Segment Head of Automotive Americas at Infineon. “Our mutual success in serving the rapidly evolving automotive market is built on a shared commitment to excellence, and we are proud of our continued work with one of the world’s leading providers of mobility solutions.”
Infineon provides a wide range of zero-defect products and system solutions to DENSO – including its AURIX™ and PSOC™ microcontrollers, OptiMOS™ and automotive MOSFETs, and radar sensors – to support functions such as engine and body control, systems electrification, safety, and autonomy.
DENSO’s Business Partner Awards are given to companies that demonstrate exceptional supplier partnership in such areas as quality, service, technology, value, and sustainability.
A key theme at this year’s NABPC was exploring how DENSO and suppliers can thrive together amid market uncertainties. Throughout the program, DENSO leaders stressed the need to maintain strong relationships, be adaptable and harness each other’s combined strengths to overcome potential difficulties and continue to support cleaner, safer mobility.
“With all the change currently facing our industry, we must remain flexible and resilient to deliver for our customers,” says Kim Buhl, Vice President of the North America Purchasing Group at DENSO. “We can only do this with the help of our suppliers. So, this year, as we congratulate those who have performed exceptionally in creating new value for DENSO, we also thank our entire supplier network. We call on each partner to continue to take on new challenges and opportunities, with us as we strive to contribute to a better world.
Original – Infineon Technologies
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DENSO CORPORATION and ROHM Co., Ltd. announced that the two companies have reached a basic agreement to establish a strategic partnership in the semiconductor field. This agreement follows discussions and considerations that began in September 2024.
Recently, the importance of semiconductors that support the electrification and intelligence of vehicles has been increasing significantly. This is driven by the development and spread of electric vehicles aimed at achieving carbon neutrality, as well as the realization of automated driving, which is expected to contribute to zero fatalities in traffic accidents.
DENSO and ROHM have a long-standing collaboration in the trade and development of automotive semiconductors. Going forward, both companies will integrate DENSO’s advanced system construction capabilities in the automotive sector with ROHM’s cutting-edge semiconductor technology, cultivated in the consumer market. This partnership will focus on enhancing the lineup of high-quality devices, particularly analog ICs, that support vehicle electrification and intelligence, and deepening collaboration in development. Additionally, in highly compatible fields within their semiconductor businesses, both companies will discuss broad collaboration. By globally supplying products created through this co-creation, both companies aim to contribute to technological innovation in the automotive field and realize a sustainable mobility society.
To further solidify this partnership, DENSO and ROHM will continue to consider strengthening their capital relationship.
DENSO CORPORATION President & CEO, Shinnosuke Hayashi
DENSO positions semiconductors as key devices to realize next-generation vehicle systems and has been deepening its cooperative relationships with semiconductor manufacturers that possess rich experience and knowledge. ROHM has a wide range of semiconductor lineups that are crucial for automotive electronics products, essential for vehicle intelligence and electrification. We are very pleased that the partnership with ROHM is progressing smoothly. By further deepening the collaboration between both companies and integrating DENSO’s accumulated automotive technology and expertise, we believe we can contribute to the development of the mobility society through stable supply and enhanced product value.ROHM Co., Ltd. President (Representative Director), Katsumi Azuma
We are very pleased to deepen our collaborative relationship with DENSO, a leader in technological innovation for the mobility society. This partnership not only strengthens our relationship as suppliers but also envisions broad collaboration in the semiconductor business of both companies. Initially, we will focus on the development of analog ICs related to next-generation systems such as electrification, automated driving, and connected vehicles. Furthermore, without narrowing the scope, we will integrate our respective technologies, knowledge, and assets across a wide range of fields to contribute to technological innovation and stable supply in the automotive industry.Original – DENSO
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DENSO Corporation and Fuji Electric Co., Ltd. announced that a semiconductor supply plan submitted jointly by the companies has been approved by the Ministry of Economy, Trade and Industry. Under this plan, the companies will take part in joint investment and production of silicon carbide (SiC) power semiconductors to develop and strengthen frameworks for the supply of said semiconductors.
Power semiconductors are vital to the efficient supply of electric power. Demand for power semiconductors has been rising rapidly given that they are used in electrified vehicles, which are being adopted at an accelerated pace amid the push for the decarbonization of society. In comparison to prior silicon semiconductors, SiC power semiconductors are able to deliver superior performance under high temperature, high-frequency, and high-voltage conditions.
These devices are therefore anticipated to make large contributions to reductions in power loses as well as to more compact and lighter-weight designs for battery electric vehicle systems and other power electronics. Accordingly, growth in demand is projected for SiC power semiconductors.
In response to electrification trends, DENSO has advanced SiC technology development projects targeting increased quality and efficiency in relation to everything from wafers and element devices to modules and inverters. Meanwhile, Fuji Electric has constructed extensive frameworks encompassing all tasks spanning from the development of SiC power semiconductor elements that enable increased efficiency and more compact designs for power electronics equipment to mass production of the related modules.
Based on the approved plan, these companies will combine their respective automotive product development and production technology capabilities in a joint effort to expand their capacity for the efficient and stable supply of SiC power semiconductors throughout Japan.
Through this partnership, the companies will contribute to the development of semiconductor supply frameworks within Japan and to the improvement of the international competitiveness of Japan’s domestic semiconductor and automotive industries. In addition, this partnership is anticipated to help advance the decarbonization of society.
Original – Fuji Electric
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DENSO CORPORATION and ROHM Co., Ltd. announced that the two companies have agreed to start consideration of strategic partnership in the semiconductor field.
As the development and spread of electric vehicles accelerate toward the realization of carbon neutrality, the demand for electronic components and semiconductors required for electrification of vehicles is rapidly increasing. In addition, semiconductors are becoming increasingly important as products that support the intelligence of vehicles, such as automated driving and connectivity which are expected to contribute to eliminating fatalities in traffic accidents, and are essential to the realization of a sustainable society.
DENSO and ROHM have been working together through trade and development of semiconductors for automotive applications. Going forward, both companies will consider this partnership to achieve a stable supply of highly reliable products, as well as for various initiatives to develop high-quality and high-efficiency semiconductors that contribute to a sustainable society.
To further solidify the partnership, DENSO will acquire a portion of ROHM’s shares.
DENSO CORPORATION President & CEO, Shinnosuke Hayashi
DENSO positions semiconductors as key devices for realizing next-generation vehicle systems and we have deepened our cooperative relationships with semiconductor manufacturers who have abundant experience and knowledge. ROHM has a lineup of semiconductors in a wide range of areas important for automotive electronics, including analog semiconductors, power devices, and discrete semiconductors, and has extensive mass production experience. We believe that by integrating the automotive technologies and expertise we have cultivated over the years, we will be able to ensure a stable supply and accelerate technological development.
ROHM Co., Ltd. President (Representative Director), Isao Matsumoto
Global Tier 1 manufacturer DENSO and ROHM have been deepening collaboration for many years, and in recent years we have been working on joint development of analog semiconductors. We believe that the partnership with DENSO and the acquisition of shares by DENSO will further strengthen our cooperative relationship. To realize carbon neutrality, it is important to collaborate on technology at the device level with an eye toward end products and systems. We believe that we can contribute to the realization of a sustainable society by deepening our integration with DENSO, who has advanced system construction capabilities in the automotive and industrial equipment fields.
Original – DENSO
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DENSO announced global financial results for its first quarter, ending June 30, 2024, for its 2025 fiscal year, ending March 31, 2025:
- Consolidated revenue totaled 1,753.8 billion yen (US$10.9 billion), a 2.4 percent increase from the previous year.
- Consolidated operating profit totaled 120.6 billion yen (US$0.7billion), a 27.7 percent increase from the previous year.
- Consolidated profit attributable to owners of the parent company totaled 94.5billion yen (US$0.6billion), a 10.5 percent increase from the previous year.
“Revenue in the first quarter increased compared to the previous year, due in part to slowing depreciation of the yen, though suspensions of operations by Japanese customers and lower vehicle production volumes due to poor vehicle sales in Asia did affect overall performance. Operating profit in the first quarter increased compared to the previous year due to foreign exchange gains and improvement efforts though lower production volumes.” said Yasushi Matsui, CFO, Vice President and member of the Board of Directors of DENSO CORPORATION.
“In this fiscal year, we forecast 7,330.0 billion yen (US$45.5 billion) in revenue and 692.0 billion yen (US$4.3 billion) in operating profit. In the first quarter, due to the idling of Japanese customers and lower vehicle production volumes in Asia, both sales revenue and operating profit decreased compared to the announced forecast at the beginning of the year. And from the second quarter onward, the impact of suspended operations by customers in Japan is expected to be reduced, but poor vehicle sales, especially in Asia, are expected to continue. On the other hand, the yen is also expected to continue to depreciate. As we navigate these uncertainties, we commit to execute our plan from the second quarter onward announced at the beginning of the year. Based on the above, our forecast of revenue and operating profit reflects only the downside of the first quarter and revise full-year financial forecast downward.”
- In Japan, revenue increased to 984.6illion yen (US$6.1 billion), up 0.4% from the previous year, and operating profit was 45.1 billion yen (US$280.0 million), up 81.6% from the previous year.
- In North America, revenue increased to 500.1 billion yen (US$3.1 billion), up 17.7% from the previous year, and operating profit was 23.3 billion yen (US$144.6 million) up 270.2% from the previous year.
- In Europe, revenue increased to 199.8 billion yen (US$1.2 billion), up 0.7% from the previous year, and operating profit was 5.0 billion yen (US$31.0 million), down 33.0% from the previous year.
- In Asia, revenue increased to 461.4 billion yen (US$2.9 billion), down 0.6% from the previous year and operating profit was 35.8 billion yen (US$222.0 million), down 11.7% from the previous year.
- In other areas, revenue increased to 29.0 billion yen (US$0.2 billion), up 1.8% from the previous year, and operating profit was 5.9 billion yen (US$36.9 million), up 19.5% from the previous year.
Original – DENSO
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DENSO announced global financial results for its third quarter, ending December 31, 2023, for its 2024 fiscal year, ending March 31, 2024:
- Consolidated revenue totaled 5,354.9 billion yen (US$37.8 billion), a 15.5 percent increase from the previous year.
- Consolidated operating profit totaled 238.6 billion yen (US$1.7billion), a 11.0 percent decrease from the previous year.
- Consolidated profit attributable to owners of the parent company totaled 175.6 billion yen(US$1.2billion), a 11.2 percent decrease from the previous year
“Revenue in the third quarter increased compared to the previous year due to the strong vehicle sales mainly in Japan and North America, foreign exchange gains and expansion of products for electrification, safety and peace of mind areas. Operating profit in the third quarter decreased compared to the previous year due to the continuing rise in the cost of materials, especially electronic components, and the adding provision for quality, though production volume, foreign exchange gains and improvement.” said Yasushi Matsui, CFO, Vice President and member of the Board of Directors of DENSO CORPORATION.
“In this fiscal year, we forecast 7,120.0 billion yen (US$50.2 billion) in revenue and 495.0 billion yen (US$3.5 billion) in operating profit. Forecast of revenue will be based on actuals of foreign exchange gains in the third quarter and forecast in the fourth quarter. Forecast of operating profit will be based on the adding provision for quality.”
In Japan, revenue increased to 3,148.3 billion yen (US$22.2 billion), up 17.0% from the previous year, and operating profit was 22.4 billion yen (US$157.6 million), down 84.8% from the previous year.In North America, revenue increased to 1,286.0 billion yen (US$9.1 billion), up 18.8% from the previous year, and operating profit was 27.5 billion yen (US$194.0 million) (Operating loss of 15.0 billion yen in the same quarter of the previous year).
In Europe, revenue increased to 570.4 billion yen (US$4.0 billion), up 16.2% from the previous year, and operating profit was 22.4 billion yen (US$157.9 million), up 145.6% from the previous year.
In Asia, revenue increased to 1,521.2 billion yen (US$10.7 billion), up 3.5% from the previous year and operating profit was 149.4 billion yen (US$1,053.6 million), up 31.6% from the previous year.
In other areas, revenue increased to 81.9 billion yen (US$0.6 billion), up 6.6% from the previous year, and operating profit was 15.1 billion yen (US$106.3 million), down 2.3% from the previous year.Forecast for Fiscal Year Ending March 31, 2024
Full-Year Forecast Changes from Previous Forecast Revenue 7,120.0 billion yen
[US$50.2 billion]+120.0 billion yen
(+1.7 percent)Operating profit 495.0 billion yen
[US$3.5 billion]-135.0 billion yen
(-21.4 percent)Profit before profit taxes 548.0 billion yen
[US$3.9 billion]-136.0 billion yen
(-19.9 percent)Profit attributable to owners of the parent company 380.0 billion yen
[US$2.7 billion]-90.0 billion yen
(-19.1 percent)ROE 8.1% -1.6% Original – DENSO
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Coherent Corp. announced that it has closed the $1 billion aggregate investment by DENSO CORPORATION and Mitsubishi Electric Corporation in Coherent’s silicon carbide semiconductor business.
Under the terms of the transaction announced on October 10, 2023, DENSO and Mitsubishi Electric each invested $500 million in exchange for a 12.5% non-controlling ownership interest in the Business, with Coherent owning the remaining 75%. Coherent has separated and contributed the Business to a new subsidiary that will operate the Business. Going forward, all operating and capital expenses of the Business will be funded by the Business. Coherent will control and operate the Business, which will continue to be led by Sohail Khan, Executive Vice President, Wide-Bandgap Electronics.
In connection with the transaction, the Business has entered into arm’s-length long-term supply arrangements with DENSO and Mitsubishi Electric that support their demand for 150 mm and 200 mm silicon carbide (SiC) substrates and epitaxial wafers.
“As I mentioned in October, we are excited to expand our strategic relationships with DENSO and Mitsubishi Electric to capitalize on the significant demand for silicon carbide,” said Dr. Vincent D. Mattera, Jr., Chair and CEO, Coherent.
“I believe that such a close relationship with two leaders in SiC power devices and modules is the best path forward to maximize shareholder value and position the Business for long-term growth. The investments from our strategic partners will be used to accelerate our capacity expansion plans and help sustain our leadership position, while ensuring the development of a robust and scalable supply for the rapidly growing market for SiC-based power electronics, largely driven by the explosive growth of the global electric vehicle market.”
“Through this strategic relationship with Coherent, we will secure a stable procurement of SiC wafers, which are critical for battery electric vehicles, and contribute to the realization of a carbon-neutral society by promoting the widespread adoption of BEVs in all regions around the world,” said Shinnosuke Hayashi, President & COO, Representative Member of the Board at DENSO.
Dr. Masayoshi Takemi, Executive Officer, Group President, Semiconductor & Device for Mitsubishi Electric, said, “We are pleased that this investment has been successfully completed. Going forward, we will further strengthen our collaboration with Coherent, leveraging their capabilities in development and manufacturing of SiC substrates, to achieve solid growth of our SiC power device business and contribute to a more sustainable world through decarbonization.”
When incorporated into electric vehicles and industrial infrastructure, SiC-based power electronics have demonstrated the potential to significantly reduce carbon dioxide emissions and accelerate the transition to a cleaner and more energy-efficient world.
Market estimates indicate that the SiC total addressable market will grow from $3 billion in 2022 to $21 billion in 2030, representing a 28% compound annual growth rate.
The transaction builds on Coherent’s more than two decades of demonstrated leadership in SiC materials. In recent years, the Company has aggressively invested to scale its manufacturing of 150 mm and 200 mm substrates to address this underserved market.
Over the past two years, Coherent has invested aggressively in capital and R&D for SiC. The closing of this $1 billion combined investment into the Business will accelerate the Company’s capital plans in the coming years. Specifically, the investment will fund the manufacturing expansion of the Business and, in combination with the concurrent supply agreements, enhance its position in the market.
The transaction enables Coherent to increase its available free cash flow to provide greater financial and operational flexibility to execute its capital allocation priorities, as it expects the aggregate $1 billion investment will be used to fund future capital expenditure requirements of the Business.
Original – Coherent
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DENSO Corporation announced changes to its organizational structure, executives’ responsibilities and personnel, effective January 1, 2024.
DENSO has stated at “DENSO DIALOG DAY 2023” that it will evolve from being “a Tier 1 supplier that supports the auto industry” to “a Tier 1 supplier that supports a mobility-centered society”, aiming to maximize the value of the entire mobility society, in addition to vehicles.
To achieve this, DENSO has announced its commitment to three challenges: “evolution of mobility,” “strengthening of foundational technology,” and “creating new value.” To materialize these goals, the following organizational and executive changes will be implemented.
In terms of the executive structure, two executive vice presidents will assume responsibility for the company’s major management resources in the following two areas, accelerating the formulation and execution of growth strategies. Additionally, to strengthen and expand technological development areas that will spur new growth, a Chief Innovation Officer (CIO) position will be established.
Original – DENSO
