KDB allocates Dongbu Special Steel profits to Dongbu Steel

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KDB allocates Dongbu Special Steel profits to Dongbu Steel

Korea Development Bank (KDB) said it has supplied profits made from the successful sale of Dongbu Special Steel to the struggling Dongbu Steel.
KDB is the main creditor of the steel manufacturer.
According to KDB on Monday, it has given 150 billion won ($136 million), which is 95 percent of the profit the KDB-led private equity fund earned from selling its stake in Dongbu Steel’s former affiliate.
In June, KDB bought a 100 percent stake in Dongbu Special Steel for 110 billion won. On Monday it sold the stake to a Hyundai Steel consortium for 294.3 billion won.
Sony to shift its investments to smartphone image sensors
Sony will invest 105 billion yen ($892 million) to accelerate the shift at its semiconductor operations to image sensors for smartphone and tablet cameras.
The money will be used to expand the monthly output capacity of image sensors 33 percent to 80,000 wafers by the end of June 2016, the Tokyo-based company said in an emailed statement Monday. Sony had previously planned an increase to 75,000 wafers a month, it said.
The company also said it will shift 220 employees involved in the development and production of chips for gaming consoles to the image sensor business and other operations. That’s part of Chief Executive Officer Kazuo Hirai’s plan to focus on the company’s strengths, such as PlayStation games, entertainment and components, as it cuts its reliance on consumer electronics. Sony plans to build on its position as a top supplier of image sensors for smartphones to expand into automotive and wearable markets.
The electronics company expects camera modules and sensors to generate about 63 percent of its device unit revenue in the year ending March 2018.

Bloomberg

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