Japan's Murata to enter capital tie-up with coil-maker Toko
TOKYO, March 22
TOKYO, March 22 (Reuters) - Japanese components maker Murata Manufacturing Co said on Thursday it would invest 3.4 billion yen ($41 million) in Toko Inc to tap the smaller firm's expertise in coils and metal alloys to develop next-generation inductors.
Murata, the world's biggest maker of ceramic capacitors, said it will buy close to 2 billion yen worth of new shares issued by Toko at 189 yen per share and 1.5 billion yen worth of bonds in the coil maker.
Murata and its rivals are hurrying to develop new energy-storing components to make electronic devices smaller and more power efficient. ($1 = 83.6300 Japanese yen) (Reporting by Mayumi Negishi; Editing by Robert Birsel)