Toyoda Gosei Co., Ltd., Epistar Corporation, and Twin Hill Co., Ltd., a sales agent for Toyoda Gosei, have formally agreed to establish a joint venture in Taiwan to develop, manufacture, and market light emitting diodes (LEDs). This joint venture agreement combines Toyoda Gosei’s leading-edge LED technology with Epistar’s low-cost manufacturing capabilities to expand the partners’ LED sales in the growing market of illumination applications.

Since 2006, Toyoda Gosei has worked with Epistar and outsourced the production of some of its LED products to Epistar. Through this joint venture, Epistar and Toyoda Gosei will tap into each other’s strengths to supply energy-saving, low-cost LED products, in order to contribute to worldwide environmental protection.

Outline of the Joint Venture
1. Tentative Name: TE OPTO Corporation
2. To be established: November 1, 2010 (scheduled)
3. Address: 4F, No. 208, Ruiguang Road, Neihu District, Taipei 11491, Taiwan
4. Capitalization: 23 million Taiwan dollars (equivalent to about ¥60 million)
5. Ownership: Toyoda Gosei 51%
                        Epistar 40%
                        Twin Hill 9%
6. Directors: Seven: four from Toyoda Gosei, two from Epistar, and one from Twin Hill
7. Business: Developing, manufacturing, and marketing LED products
8. Short-term target: Annual sales equivalent to about ¥5 billion by the fiscal year to March 31, 2012

Left: B.J. Lee, Chairman of Epistar; Center: Hajime Wakayama, President of Toyoda Gosei; Right: Philip Cheng; President of Twin Hill