Denso makes an acquisition bid for RQ-M

Nippon Denso has made a takeover offer to semiconductor giant Rohm. The proposal is believed to aim to acquire all shares through a TOB (tender offer for the purchase of shares made public). The deal value is expected to reach a scale of 1.3 trillion yen. If it goes through, in the field of power semiconductors used for pure electric vehicles (EVs) and data center power control, it would become a major force within Japan. Industry reshuffling in the past, which had centered on cooperation, is set to enter a phase of elimination through mergers and acquisitions.

In the power semiconductor sector, Japanese companies have traditional strengths, but with the rise of Chinese firms, production capacity at various Japanese companies has turned into excess. The Ministry of Economy, Trade and Industry of Japan has also urged companies to carry out restructuring. Previously, Denso and Fuji Electric, and Rohm and Toshiba, respectively launched collaborations; now, the framework may undergo significant changes.

Denso and Rohm announced in May 2025 that they would collaborate in the semiconductor field, with plans to jointly develop analog semiconductors for controlling components such as sensors in pure electric vehicles. Through the collaboration, Denso obtained 0.3% of Rohm’s shares. By July of the same year, it further acquired equity, raising its investment share to nearly 5%.

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