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Asyst Technologies agreed in 2002 to pay 8.16 billion yen, reported at the time as $66 million, for a 51% stake in a new joint venture with Japan’s Shinko Electric. The aim was to combine Asyst’s position with Shinko’s existing automated material-handling systems (AMHS) business and target the emerging 300-mm semiconductor-factory market.
What Asyst agreed to buy
On May 24, 2002, Asyst announced a definitive agreement to acquire 51% of a new company called Asyst Shinko Inc. for 8.16 billion yen, or $66 million as reported in the announcement. The transaction was expected to be completed on October 1, 2002; the announcement’s expected date does not by itself establish when closing occurred.
Asyst Shinko was intended to develop, manufacture, sell and support AMHS for semiconductor and flat-panel-display manufacturing. Its principal operations were to be in Tokyo and Ise, Japan.
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What Shinko contributed—and how ownership was divided
Rather than starting with a business built from scratch, the venture was to receive Shinko’s existing AMHS business, intellectual property, installed customer base and approximately 250 employees. At formation, Asyst was to hold 51% and Shinko 49%.
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| Stage | Asyst ownership | Shinko ownership | Transaction detail |
|---|---|---|---|
| 2002 formation | 51% | 49% | Asyst agreed to pay 8.16 billion yen ($66 million as reported in 2002) for its stake. |
| 2006 proposed additional purchase | 95.1% after the purchase | 4.9% remaining | Asyst agreed to buy another 44.1% for 11.7 billion yen (approximately $102 million at the exchange rate stated in the filing). |
Why the deal focused on 300-mm fabs
The strategic case was access to the expected growth in automated handling for factories using 300-mm wafers. Asyst chairman and CEO Mihir Parikh told EDN that the venture positioned Asyst to become a leader in 300-mm AMHS and forecast that the market would more than double to $1 billion annually in the next industry upturn. That figure was a company executive’s forecast reported in 2002, not evidence of the market’s later size or of Asyst’s eventual market position.
The venture’s scope combined equipment development and manufacturing with sales and support, while Shinko brought an established operation, customers and staff. Those contributions help explain the strategic logic: Asyst could pursue the 300-mm opportunity through a business with existing AMHS capabilities and a base in Japan, rather than relying only on a new standalone operation.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What happened to Asyst Shinko
In 2006, Asyst agreed to acquire an additional 44.1% of the venture for 11.7 billion yen, approximately $102 million using the exchange rate stated in the filing. The planned purchase would lift Asyst’s ownership from 51% to 95.1%. A later filing says the entity was renamed Asyst Technologies Japan in September 2007 and continued AMHS operations.
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