Intel to Invest Y10B in Nikon’s Advanced Optical Lithography Program
Tokyo, Japan – May 28, 2002 — Nikon announced today that the company is issuing a new group of securities in the form of convertible bonds. Intel has agreed to purchase a concurrent offering of these bonds in the amount of Y10B (approximately US$80 M). Assuming conversion of these bonds, Intel would receive shares representing approximately 1.36%* of Nikon’s current outstanding shares. Nikon and Intel have enjoyed a commercial relationship for many years and are now entering into an agreement specifically intended to result in Advanced Optical Lithography or Next Generation Lithography (NGL) tools that will allow production of semiconductor devices with features of 90 nm, 65 nm and below.
Mr. Shoichiro Yoshida, Chairman and CEO of Nikon Corporation, commented that “Working with Intel, the world’s largest semiconductor company, provides Nikon unique insight to the requirements of future lithography tools. This investment will provide support for our program as well serve to further strengthen our long relationship. We are confident that we can meet Intel’s expectations and develop advanced lithography tools that will contribute to the progress of the semiconductor industry.”
“Continued research and development in the field of lithography is critical to the long-term growth of our industry,” said Jai Hakhu, vice president Technology Manufacturing Group and general manager Technology Manufacturing Engineering. “Intel makes investments like this one which insure continued availability of the lithography tools required by the industry to track to Moore’s law.”
Nikon is currently working on several NGL technologies to meet the various needs of its customers and maintain the ITRS Roadmap. These include 157 nm using F2 (calcium fluoride) and 13.5 nm EUVL (Extreme UV Lithography). Both F2 and EUVL present significant challenges to both equipment makers as well as semiconductor makers. Nikon’s 1st F2 tools are scheduled for delivery in 2004.
The semiconductor industry’s continuous need for equipment like this is driven by the requirement to make ever smaller and faster devices that are less costly and require less power than each previous generation.
* The expected percentage after conversion of the whole bonds including separate public offering of 40 billion yen
About Nikon: Nikon is a leading developer and manufacturer of advanced optical and precision equipment. Nikon designs and makes precision equipment for use in semiconductor and liquid crystal display (“LCD”) fabrication, inspection and measurement. Nikon also makes visual imaging products including cameras, instruments such as microscopes and other products such as binoculars and surveying instruments. With its strong and long-standing customer relationships, global brand recognition and technical expertise, Nikon maintains its leadership position through its emphasis on cutting-edge research and development and its ability to adapt its products to meet its customers’ quickly changing needs.
These materials are not an offer for sale of the Bonds in the United States. The Bonds have not been registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be sold in the United States absent registration or an exemption from registration under the Securities Act.
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