Global Brands Manufacture Ltd. (GBM, TPE:6191), a subsidiary of HannStar Board Corporation (TPE:5469), announced on December 26, 2024, its plan to acquire 100% equity in Japanese printed circuit board (PCB) manufacturer Lincstech for ¥39.7 billion (approximately NT$8.4 billion). The acquisition, subject to price adjustments and regulatory approvals, is expected to enhance HannStar Board’s standing, potentially securing its position among the world’s top 10 PCB manufacturers.

Strengthening HannStar Board’s Global Position

HannStar Board, currently ranked 11th globally according to 2023 data, would surpass Austria-based AT&S (ranked 10th) in revenue with the addition of Lincstech. The integration is projected to bring HannStar Board’s revenue in line with ninth-ranked Compeq Manufacturing Co. Ltd.

Lincstech reported approximately NT$9.9 billion in revenue for the first three quarters of 2024. With GBM already contributing over 50% of HannStar Board’s revenue, the Lincstech acquisition is expected to solidify HannStar Board’s market position and bolster its competitiveness.

Expanding Capabilities and Market Reach

GBM operates facilities in China, Japan, and Malaysia, catering to diverse markets, including 3C communication products, automotive applications, and PC/NB systems. The company emphasized that acquiring Lincstech would expand its product portfolio, strengthen its technological capabilities, and enhance its presence in Southeast Asia.

GBM has extensive experience in integrating Japanese companies, having acquired ELNA Co., Ltd. in 2018. The company plans to leverage its expertise in management, technology, and market integration to ensure Lincstech’s smooth assimilation and maximize its operational potential.

Competitive Landscape

The global PCB market is dominated by Taiwanese manufacturers, with Zhen Ding Technology (TPE:4958), Unimicron Technology (TPE:3037), and Compeq Manufacturing (TPE:2313) holding prominent positions. With the Lincstech acquisition, HannStar Board aims to reclaim its spot in this elite group and strengthen its position in the competitive PCB industry.

This strategic acquisition underscores HannStar Board’s commitment to growth and innovation, aligning with broader trends in the PCB industry for advanced technology integration and market expansion.