Denso makes an acquisition bid for RQ-M

Nippon Denso has made a tender offer to the semiconductor giant Rohm. The deal is believed to be intended to obtain all shares through a TOB (tender offer for public shares). The acquisition value is expected to reach about 1.3 trillion yen. If it goes through, it would become a major force in Japan in the power semiconductor field used for pure electric vehicles (EVs) and power control for data centers. The industry reorganization efforts that have previously centered on collaboration will shift into a situation of being weeded out through mergers and acquisitions.

In the power semiconductor sector, Japanese companies have traditional strengths, but with the rise of Chinese firms, production capacity at various Japanese firms has become excessive. Japan’s Ministry of Economy, Trade and Industry has also urged companies to restructure. Previously, Denso and Fuji Electric, and Rohm and Toshiba, respectively entered into partnerships; now the framework may undergo significant changes.

In May 2025, Denso and Rohm announced cooperation in the semiconductor field, planning to jointly develop analog semiconductors for controlling sensors in pure electric vehicles, among other things. Denso acquired 0.3% of Rohm’s shares through the partnership. By July of the same year, it further bought additional equity, raising its funding stake to nearly 5%.

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