TOKYO (dpa-AFX) - TDK Corp. (TTDKY, 6762.T), a Japanese electronic components maker, Thursday announced a deal to transfer new development business for automotive power supply to Astemo, Ltd. through a company split, for JPY 4.300 billion.
The automotive power supply business is a maker and seller of DC-DC converters and On-Board chargers, which are mainly used in hybrid cars and electric vehicles or xEVs.
TDK said: 'From a business portfolio management perspective, the company has thoroughly examined the sustainable growth of this business within our company. As a result, the company has decided to transfer this business to Astemo, a company dedicated to advancing energy management technologies for xEVs.'
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