Coherent in talks with Japanese firms for silicon carbide investment-source

SaltWire's Atlantic regional weather forecast for September 22, 2023 | SaltWireNEW YORK - Coherent Corp, a major U.S. supplier of materials used to make chips for the automotive industry, has attracted interest from four Japanese conglomerates for an investment in its silicon carbide business at a valuation of as much as $5 billion, according to a person familiar with the matter.

Denso Corp, Hitachi Ltd, Mitsubishi Electric Corp and Sumitomo Electric Industries Inc have held discussions about taking a minority stake in Coherent's silicon carbide business, the source said. Coherent, which said in May it would explore options for its silicon carbide business, declined to comment. Representatives for the Japanese companies did not immediately respond to requests for comment.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Japanese PM Fumio Kishida seeks to shake up $5-trillion asset management industryThe Japanese government is reviving its decades-old policy pledge to move 2,000 trillion yen of household financial assets into investment, as half of such assets are sitting in cash or bank deposits
Source: globebusiness - 🏆 31. / 66 Read more »

Global Funds Double Sales of Japanese Stocks to Most Since 2019Foreign investors sold the most Japanese equities since March 2019 last week as the Topix index reached a fresh multi-decade high.
Source: BNNBloomberg - 🏆 83. / 50 Read more »