|Material Information (8299 Phison)|
|SEQ_NO||1||Date of announcement||2022/01/05||Time of announcement||18:34:30|
Phison acquires Nextorage to strengthen customized high-end storage market
|Date of events||2022/01/05||To which item it meets||paragraph 53|
1.Date of occurrence of the event:2022/01/05 2.Company name:Phison Electronics Corporation 3.Relationship to the Company (please enter head office or subsidiaries):head office 4.Reciprocal shareholding ratios:No. 5.Name of the reporting media:Money Link 6.Content of the report:Phison (8299), a leading NAND controller solution provider, announced today that it has acquired 100% of Nextorage, a subsidiary of Sony in Japan. Formally entered the NAND storage market related to Japan's automotive electronics,industrial control, and e-sports, and it is also expected to receive Sony orders. Phison has previously acquired approximately 49% of Nextorages equity, and today announced the completion of the 100% acquisition. And since January 2022, it has become a subsidiary of Phison, which recognizes 100% of its revenue. Phison Electronics Corp. acquired shares of its joint-venture company Nextorage Corporation from its joint-venture partner, Sony Storage Media Solutions Corporation (SSMS, SSMS is a wholly-owned subsidiary of Sony Group Corporation). 7.Cause of occurrence:No. 8.Countermeasures:In response to the rising market demand for next-generation, customized high-end storage, Phison Electronics Corp. (Phison) acquired shares of its joint-venture company Nextorage Corporation (the transaction has been completed and Nextorage has become a subsidiary of Phison Electronics on January 1, 2022) from its joint-venture partner, Sony Storage Media Solutions Corporation (a wholly-owned subsidiary of Sony Group Corporation). The acquisition continues Phisons expansion into the customized high-end storage market, including high-resolution image processing systems, automotive electronics, e-sports and gaming systems, factory automation, electronic medical equipment, and industrial robots, etc. Through the resources of local R&D engineers in Japan, it serves nearby Japanese customers and continuously improves service quality. 9.Any other matters that need to be specified:Media reports on Phison's customer order status are speculation, and Phison does not comment on any customers.