Tower Semiconductor Ltd. (TSEM), Wednesday announced a strategic move to restructure its Japan operations, which are currently run through TPSCo, a Japanese company owned 51 percent by Tower and 49 percent by Nuvoton Technology Corporation Japan.
Under the new plan, Tower will take full ownership of the 300mm facility through a wholly owned Japanese subsidiary, while Nuvoton Technology will take full ownership of the 200mm facility.
The transaction, set to close on April 1, 2027, is expected to strengthen Tower's differentiated optical and photonics platforms, enabling growth across these high-value technology offerings.
Currently, TSEM is moving up 4.29 percent, to $189.04 on the Nasdaq.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.