ON Semiconductor Completes Additional Share Purchase of Fujitsu’s 8-inch Wafer Fab

ON Semiconductor completes incremental 20 percent share purchase of
Fujitsu’s 8-inch wafer fab in Aizu-Wakamatsu, Japan, resulting in 60
percent ownership

PHOENIX & YOKOHAMA, Japan–(BUSINESS WIRE)–ON Semiconductor Corporation (Nasdaq: ON)
and Fujitsu Semiconductor Limited today announced that ON Semiconductor
will complete the incremental 20 percent share purchase of Aizu Fujitsu
Semiconductor Manufacturing Limited, Fujitsu’s 8-inch wafer fab in
Aizu-Wakamatsu, on Oct. 1, 2018. ON Semiconductor will hold a 60 percent
majority ownership in the joint venture, and a brand transition will
occur following the Oct. 1 close. Consequently, the company name of Aizu
Fujitsu Semiconductor Manufacturing Limited will transition to ON
Semiconductor Aizu Co., Ltd on Oct. 1, 2018.

The two companies entered into an agreement in 2014 under which ON
Semiconductor obtained a 10 percent ownership interest in Fujitsu’s Aizu
8-inch fab. Initial transfers began in 2014, and successful production
and ramp up of wafers began in June 2015. In October 2017, the two
companies further agreed on an incremental share purchase of Fujitsu’s
Aizu 8-inch fab by ON Semiconductor, and based on the agreement ON
Semiconductor increased its ownership interest in Fujitsu’s Aizu 8-inch
fab to 40 percent in April 2018. ON Semiconductor continues to increase
production at the Aizu 8-inch fab, and both companies believe that
further strategic partnership will maximize the value for both companies.

ON Semiconductor plans to increase its ownership to 100 percent in the
first half of 2020. This additional capacity will allow ON Semiconductor
to continue to scale its operations to meet forecasted demand and enable
increased supply chain flexibility.

About Fujitsu Semiconductor

Fujitsu Semiconductor Group includes a system memory group that is
focused on high quality, high performance Ferroelectric random access
memory (FRAM), wafer foundry group that has excellent technology and
support, and the sales business of Fujitsu Electronics and overseas
sales companies. Headquartered in Yokohama, we established as a
subsidiary of Fujitsu Limited on March 21, 2008. Through its global
sales and development network, with sites in Japan and throughout Asia,
Europe, and the Americas, we offer semiconductor solutions to the global
marketplace. For more information, visit http://www.fujitsu.com/jp/fsl/en/

About ON Semiconductor

ON Semiconductor (Nasdaq: ON) is driving energy efficient innovations,
empowering customers to reduce global energy use. The company is a
leading supplier of semiconductor-based solutions, offering a
comprehensive portfolio of energy efficient power management, analog,
sensors, logic, timing, connectivity, discrete, SoC and custom devices.
The company’s products help engineers solve their unique design
challenges in automotive,
communications, computing, consumer, industrial, medical, aerospace and
defense applications. ON Semiconductor operates a responsive,
reliable, world-class supply chain and quality program, a robust
compliance and ethics program, and a network of manufacturing
facilities, sales offices and design centers in key markets throughout
North America, Europe and the Asia Pacific regions. For more
information, visit http://www.onsemi.com.

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ON Semiconductor and the ON Semiconductor logo are registered
trademarks of Semiconductor Components Industries, LLC. All other brand
and product names appearing in this document are registered trademarks
or trademarks of their respective holders. Although the company
references its Web site in this news release, such information on the
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This press release contains forward-looking statements, such as those
relating to the acquisition of ownership interests in this joint
venture, within the meaning of the Private Securities Litigation Reform
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Contacts

Fujitsu Semiconductor
Public Relations
https://www-s.fujitsu.com/jp/group/fsl/en/release/inquiry.html
or
ON
Semiconductor
Kris Pugsley
Corporate Communications / Media
Relations
(312) 909-0661
kris.pugsley@onsemi.com
or
Parag
Agarwal
Vice President Investor Relations and Corporate Development
(602)
244-3437
investor@onsemi.com