Taiwan’s leading electronic component maker Yageo Corporation has successfully acquired Japan’s Shibaura Electronics, a major temperature sensor manufacturer, through a tender offer (TOB). After outbidding Japan’s MinebeaMitsumi, Yageo’s win marks a new milestone in the wave of Taiwanese cross-border M&A.
Executive Summary
- Yageo launched its TOB in May 2025 and secured approximately 87% of Shibaura’s shares.
- Final offer price: ¥7,130 per share, surpassing MinebeaMitsumi’s counteroffer.
- The acquisition combines Shibaura’s thermal sensing expertise with Yageo’s global reach, strengthening heat management and sensor product capabilities.
- This transaction highlights Taiwan’s growing presence in global M&A activity.
Company Backgrounds
Yageo: A Global Passive Component Leader
Founded in 1977, Yageo is one of the world’s largest producers of resistors and capacitors. Operating in over 35 countries, it supplies critical components for AI servers, EVs, and smartphones.Through acquisitions such as U.S.-based Kemet and France’s Telemecanique Sensors, Yageo has evolved into a key global supplier.
Shibaura Electronics: Japan’s Thermal Sensor Specialist
Based in Saitama Prefecture, Shibaura Electronics is a world-class expert in NTC thermistors (negative temperature coefficient sensors). Its products serve automotive and home appliance markets, and the company has sought to expand its global presence in recent years.
Purpose and Synergies of the Acquisition
Yageo’s goal is to enhance its product portfolio and advance its “one-stop electronic component solution” strategy. By integrating Shibaura’s thermal sensor technology, Yageo strengthens its competitiveness in EV and high-performance computing sectors.
For Shibaura, Yageo’s extensive global network provides a gateway to international markets.
Yageo’s chairman also pledged to expand R&D and manufacturing investment in Japan, reinforcing bilateral technological collaboration.
Deal Terms and Timeline
| Item | Details |
| Method | Tender Offer (TOB) |
| Price | ¥7,130 per share |
| Period | May 9 – Oct 20, 2025 |
| Ownership Secured | Approx. 87% |
After obtaining Japan’s foreign investment approval, Shibaura’s board endorsed Yageo’s proposal. The TOB exceeded the required minimum in early October, confirming Yageo’s acquisition success and paving the way for full ownership by year-end.
Outlook: Taiwan’s Expanding Global M&A Strategy
The deal exemplifies how Taiwanese companies are accelerating cross-border acquisitions, especially in Japan. Yageo continues its “Active + Passive Component Integration” strategy, aiming to build a comprehensive electronic ecosystem. Although concerns about technology transfer arose, Yageo assured regulators that core technologies will remain in Japan. Joint R&D between the two firms could lead to new generations of advanced sensing solutions.
Conclusion: A New Chapter for Asian Globalization
Yageo’s acquisition of Shibaura Electronics symbolizes the deepening globalization of Taiwanese industry. For Japan, it underscores the growing importance of collaborating with international capital and technology partners. The fusion of Yageo’s and Shibaura’s expertise could reshape Asia’s electronic industry landscape — a milestone in cross-border innovation.
