Development Bank of Japan-backed Mercuria Holdings and Itochu to acquire a 200mm wafer fab from ON Semiconductor.

Mercuria Holdings, a fund backed by the Development Bank of Japan, and Itochu, a Japanese trading house, agreed to acquire a 200mm wafer fab from ON Semiconductor, a supplier of power semiconductors and sensors. Financial terma were not disclosed. The fab, located in Niiagata, Japan, will begin to operate as a foundry manufacturing power semiconductors, starting in December. Mercuria is planning to buy more Japanese fabs for contract manufacturing, in a bid to strengthen the country's chip manufacturing capability.