Denso submits an acquisition offer to Rohm

Nippon Denso has made an acquisition bid for semiconductor giant RYOH. The plan is believed to involve a TOB (public tender offer) to acquire all shares. The acquisition is expected to reach approximately 1.3 trillion yen. If successful, it will establish a major presence in Japan’s power semiconductor sector for pure electric vehicles (EVs) and data center power control. Previously, industry restructuring centered on cooperation will shift toward elimination through mergers and acquisitions.

In the power semiconductor field, Japanese companies have traditional advantages, but with the rise of Chinese firms, capacity among Japanese companies has become oversaturated. Japan’s Ministry of Economy, Trade and Industry has also urged companies to restructure. Previously, Denso collaborated separately with Fuji Electric and RYOH with TOSHIBA; now, significant changes to these frameworks are possible.

Denso and RYOH announced in May 2025 their cooperation in the semiconductor sector, planning to jointly develop analog semiconductors for controlling sensors in pure electric vehicles. Denso acquired a 0.3% stake in RYOH through this cooperation. By July of the same year, they further increased their shareholding, raising their investment to nearly 5%.

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