NEC Corp. said Friday it will spin off the group’s laser-processing operations into a new company that the electronics firm and two other concerns will establish in December.

The two other firms are Japan Industrial Partners Inc., which manages a fund for investing in corporate restructuring businesses, and Cyber Laser Inc., a venture firm developing laser equipment, NEC said.

“NEC’s equity participation will be less than 20 percent, and laser equipment to be developed by the new company will not bear the NEC brand but will have a new brand name,” an NEC spokeswoman said.

Japan Industrial Partners will have a minimum stake of 51 percent in the new company, and Cyber Laser will own the remaining 30 percent stake, she said.

The spokeswoman said no other details about the new firm have been decided.

NEC engages in laser operations at the parent firm and two wholly owned subsidiaries, NEC Laser & Automation Ltd. and NEC Robotics Engineering Ltd.

The group develops and produces various kinds of laser-processing equipment for use in producing semiconductor devices and liquid crystal displays, among others, as well as for welding and medical operations.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.