TDK acquires EV Magnet R&D Business Sector from Showa Denko
TDK Corporation announced today it has reached an agreement with Showa Denko K.K. and concluded a transfer contract of Showa Denko's neodymium magnet alloy R&D business sector to TDK. Showa Denko is a manufacturer of a comprehensive portfolio of petrochemical products and electronic materials.
The agreement reached between the two companies is designed to accelerate the development of new, high-performance and high-quality neodymium magnets, and to establish a more efficient production system for meeting escalating market demand.
With the transfer agreement, TDK aims to accelerate the development of high-performance, high-quality rare earth magnets for growth markets including motors for electric vehicles (EVs). Acquisition of Showa Denko's magnet alloy-related equipment and patents enables TDK to efficiently produce them and timely provide them to the market.
Within its magnet products portfolio, TDK offers neodymium magnets containing rare earth minerals, and ferrite magnets consisting of a mixed oxide of metals including iron. Showa Denko's magnet alloy complements the evolution of TDK's unique material technologies and neodymium magnet products. TDK's magnet products for motors are used in automobiles, industrial equipment, information and communications technology devices, and related products.
TDK said it believes that this transfer enables it to enhance the quality of neodymium magnets from the level of materials. It is another step towards achieving its target of zero defects, and providing safe and secure TDK products to customers in a timely manner.