Tokyo, Japan - OMRON Corporation (TSE: 6645; ADR: OMRNY; 'OMRON'), a global leader in automation, sensing and control technology, announced that the preliminary agreement* that it previously reached to acquire the semiconductor business assets of Seiko Epson's consolidated subsidiary, Yasu Semiconductor Corporation, has been finalized and the acquisition was completed on March 30, 2007. These business assets have been vested in OMRON's wholly owned subsidiary, OMRON SEMICONDUCTORS Co., Ltd. (hereafter referred to as OSC), which will begin operations on April 2, 2007.

Employing an 8-inch CMOS production line, OSC will begin by manufacturing nonvolatile memory and logic ICs on a commission basis, and will subsequently expand its production to include original semiconductor elements and other products. OSC's sales target for fiscal 2007 is 3 billion yen, and sales are expected to exceed 5 billion yen by fiscal 2010.

OMRON develops, manufactures, and markets custom ICs that offer functionality and cost-performance not found in general-purpose semiconductors, as well as MEMS (Micro Electro Mechanical Systems) products such as flow sensors and pressure sensors that utilize semiconductor processes in their manufacture. OSC will make it possible to further expand these semiconductor operations, while strengthening the OMRON Group's line of semiconductor-equipped products.

*The preliminary agreement was announced on October 25, 2006.