On October 29, 2025, Delta Electronics, Inc. announced that it will acquire 90.23% of the shares of Noda RF Technologies Co., Ltd. (NRF), a Japan-based RF power system specialist, through its Dutch subsidiary Delta Electronics (Netherlands) B.V. for approximately JPY 5.024 billion (around NTD 1.034 billion). Upon completion, Delta will add the newly acquired shares to its existing 9.77% stake, becoming the 100% owner of NRF.
Headquartered in Osaka, Japan, and established in 2002, NRF is a leading provider of radio frequency (RF) power systems used in key semiconductor processes such as etching, chemical vapor deposition (CVD), and physical vapor deposition (PVD), as well as in flat panel display manufacturing. NRF’s RF power technology plays a critical role in improving chip yield and process precision.
Founded in 1971, Delta Electronics is a global leader in power management and energy efficiency solutions, with products spanning industrial automation, data centers, EV charging, and renewable energy. In recent years, Delta has actively expanded into semiconductor power applications, offering high-performance power and thermal solutions to wafer fabs and equipment manufacturers. The company emphasized that integrating NRF’s RF expertise with Delta’s existing power technologies will broaden its semiconductor power portfolio and enhance customer value.
Transaction Details
- Target Company: Noda RF Technologies Co., Ltd. (NRF), a Japan-based developer and manufacturer of RF power systems for semiconductor applications.
- Ownership Acquired: 90.23% newly acquired shares; combined with Delta’s existing 9.77%, resulting in full ownership (100%).
- Transaction Value: Approximately JPY 5.024 billion.
- Acquisition Method: Conducted through Delta Electronics (Netherlands) B.V. via equity transfer; paid in cash.
- Closing Conditions: The transaction remains subject to customary conditions, including regulatory approvals and other contractual prerequisites before completion.
Purpose and Expected Synergies
The primary objective of this acquisition is to expand Delta’s capabilities in semiconductor equipment power solutions and enhance its technical portfolio.
According to Delta Chairman Ping Cheng, combining the technologies and existing collaboration between Delta and NRF will enrich Delta’s product offerings and create stronger R&D and market synergies. Key Benefits Include:
- Expanded Product Line: Integration of NRF’s RF systems with Delta’s high-efficiency power technologies will enable Delta to deliver comprehensive solutions from DC to RF, meeting the demands of advanced semiconductor processes.
- Enhanced Market Competitiveness: With NRF under its umbrella, Delta can now offer complete power solutions to global semiconductor fabs and equipment manufacturers, strengthening its presence in the semiconductor supply chain.
- Technological Synergy: The complementary strengths in R&D and market reach are expected to accelerate new product development and provide enhanced technical support to semiconductor clients.
Company Profiles
Delta Electronics, Inc.
Founded in 1971 and headquartered in Taiwan, Delta Electronics is a global leader in switching power supplies and thermal management products. Its offerings are widely used in industrial automation, telecommunications, data centers, renewable energy, and automotive electronics. In recent years, Delta has invested heavily in semiconductor power and cooling technologies, delivering energy-efficient solutions that meet global sustainability standards. The company operates under the mission of “Providing innovative, clean, and energy-efficient solutions.”
Noda RF Technologies Co., Ltd. (NRF)
Established in 2002 and headquartered in Osaka, Japan, NRF specializes in designing and manufacturing RF power systems primarily used in semiconductor production processes such as etching, CVD, and PVD. The company has gradually expanded into the display panel sector. Renowned for its strong R&D capabilities and customization expertise, NRF holds a solid reputation in both Japanese and international markets.
Transaction Timeline and Outlook
Following the announcement on October 29, 2025, Delta Electronics stated that the completion of the acquisition is contingent upon obtaining required regulatory approvals and fulfilling all closing conditions. Once finalized, Delta plans to integrate NRF’s resources and technology, accelerating the development of next-generation RF power products and expanding its footprint in the global semiconductor equipment market.
Overall, this acquisition is expected to enhance Delta’s completeness in semiconductor power solutions, strengthen its competitive edge, and create long-term value for both shareholders and customers.
