KYOCERA to Acquire 33% of JAE

KYOCERA Corporation, parent company of KYOCERA AVX, announced its intent to acquire 33.0% of the shares of Japan Aviation Electronics Industry Ltd. (JAE) held by NEC Corporation. In conjunction with this share acquisition, KYOCERA has also entered into a capital and business alliance agreement with JAE. NEC is the largest shareholder of JAE. KYOCERA will acquire the shares through an off-market, over-the-counter transaction. Upon completion of this share acquisition, JAE will become an equity-method affiliate of KYOCERA.