KUALA LUMPUR (May 20): Japan’s TDK Corp plans to acquire a Malaysia-based lithium-ion rechargeable battery start-up, Linergy Power Sdn Bhd, as part of the leading electronic component maker’s plan to expand its core energy solution business.
TDK’s board has resolved on Wednesday that the group’s Singapore-based unit, Amperex Technology (Singapore) Pte Ltd, will fully acquire Linergy Power for US$241.1 million, according to a statement on its website.
“Upon completion of the transfer, Linergy [Power] will become a wholly owned subsidiary,” it said, adding that the conclusion of the agreement will also be on Wednesday, and the share transfer’s execution is scheduled for June 15.
TDK said Linergy Power’s shareholding was not disclosed in the statement “in response to the major shareholder’s request”. Linergy Power was established on Dec 19, 2024, TDK noted.
According to the Companies Commission Malaysia, Linergy Power is wholly owned by leading China-based lithium-ion battery supplier, Ampace Technology Ltd.
TDK said the acquisition is complementary to its core energy solution business, where it has introduced high-value-adding new products to the market through cutting-edge technological development of small and medium capacity batteries, building trust among a diverse customer base.
“Through the acquisition of shares, the company will be able to offer a flexible global supply structure capable of responding to the diverse needs of customers. This will further strengthen customer trust, propel further growth in the business, and accelerate the realisation of ‘TDK Transformation’,” it added.
Linergy Power had consolidated net assets of US$217.31 million as at end-March this year, TDK disclosed.
It was loss-making with a net loss of US$22.67 million and consolidated net sales of US$178,030 for the financial year ended March 31, 2026 (FY2026).