Denso's proposal to acquire Rohm became public on 6 March, when the Kyoto-based semiconductor maker confirmed receiving an offer for its shares that Nikkei valued at up to about ¥1.3tn ($8.2bn).
Why Denso Corporation is buying ROHM Co., Ltd.
Denso said the semiconductor industry faced intensifying competition and that working with partners was indispensable; it has held a strategic partnership with Rohm in analog ICs since May 2025 and owns a stake of almost 5%.
Deal terms and financing
Neither company disclosed a price per share or structure. The ¥1.3tn figure was reported by Nikkei and was not confirmed by Denso.
Regulatory approvals and timing
No regulatory filing was made. Rohm said on 17 March that the proposal differed from its independently pursued strategy and passed it to a special committee. On 28 April Denso's board resolved to withdraw the proposal, citing the lack of support from Rohm's board and special committee, and Rohm announced it had ended its consideration (Rohm release, 28 April 2026).
Market context
Rohm had been in talks with Toshiba and Japan Industrial Partners about closer collaboration in power semiconductors since 2024, and Mitsubishi Electric later joined discussions on integrating the three companies' power chip businesses. Automakers have sought more secure chip supply after pandemic-era shortages.
