Japanese Fuji Electric recently announced that its board of directors has approved the proposal to set up a new second-tier subsidiary in Malaysia. Named Fuji Electric Semiconductor, the new company will be a fully-owned unit under Fuji Electric Device Technology, according to a press release by Fuji Electric.

With a total investment of nine billion Yen (US$ 82.4 million; US$1 = 109.2 Yen), the new facility - based on the same premises where Fuji Electric Device Technology is located - is slated for completion on March 1, 2008, according to the same source. The plant will officially kick off operations in April 2008, mainly manufacturing and assembling a power semiconductor device called IGBTs (Insulated Gate Bipolar Transistors).