Baker McKenzie Advises Mitsubishi Electric Corporation on its Investment in Silicon Carbide LLC, a New SiC Business Subsidiary of Coherent Corp.

Baker & McKenzie (Gaikokuho Joint Enterprise) (“Baker McKenzie”) advised Mitsubishi Electric Corporation (“Mitsubishi Electric”) in connection with its US$500 million investment to acquire a 12.5% stake in Silicon Carbide LLC (“Silicon Carbide”), a new silicon carbide (SiC) business being carved out from Coherent Corp. (“Coherent”).

Through this investment, Mitsubishi Electric aims to stabilize its procurement of SiC substrates for SiC power modules — for which demand is forecasted to grow rapidly — thereby expanding its supply of reliable, high-performance SiC power devices to meet rising global demand.

The project was led by Akifusa Takada, and Junya Ae, partners in the Tokyo office’s Corporate/M&A and Antitrust & Competition Groups, respectively. They were supported by Tokyo partner Michio Suzuki, counsel Junya Suzuki and associates Ryo Yamaguchi, Masayuki Shinoura, Minako Zai and Yuji Sato, joined by partner Rod Hunter, counsel Craig Roeder and associate Yitian Cai from Baker’s US offices.

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