DAISHINKU CORP. November 12, 2015


Statement on the Execution of Partnership Agreement with SiTime Corporation



Following execution of a partnership agreement with SiTime Corporation (wholly owned subsidiary of Mega Chips Corporation: hereinafter, 'SiTime Corp.') on sales of MEMS timing devices, the Company makes the following statement.


  1. Outline and Purpose

    The Company will sell, in addition to quartz devices, the MEMS timing devices of SiTime Corp. under the brand of the Company one by one to the market of IoT and wearables, which is expected to expand in the future.

    SiTime Corp. engages in the development and sales of timing devices such as resonators and oscillators for which MEMS (Micro Electro Mechanical Systems) technology is applied to Si (silicon) material.


  2. Outline of SiTime Corp.

    1. Name: SiTime Corporation

    2. Address: State of California in the United States of America

    3. Full Name of Representative Person: Rajesh Vashist, CEO

    4. Line of Business: Development and sales of MEMS timing devices

    5. Capital: 20,333,000 U.S. Dollars

    6. Incorporation: December 2003

    7. Number of Employees: about 90 persons

    8. Relationship with the Company: No specific relationship exists with the Company in terms of capital, personnel or transactions.


    9. Future Prospects

      10. The impact on the projection of the consolidated financial results of the Company for the term ending in March 2016 in connection with the execution of this partnership agreement is minor. However, the Company considers that this agreement will realize enhancement of the corporate value of the Company in the future.

      If it becomes clear that this agreement will have a material impact on financial results, the Company will disclose such facts promptly.

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