This follows an announcement last week that Panasonic will sell its semiconductor business to Taiwan’s Nuvoton Technology Corp (4919.TW) for $250 million.
News reports had said that sale would include the entire JV with TowerJazz, which operates three Japanese chipmaking facilities.
“Pursuant to its long-term strategy and growth plans, TowerJazz will continue its operations and manufacturing activity at TPSCo Japanese manufacturing facilities,” TowerJazz said in a statement.
The company does not plan any changes to its manufacturing services and therefore there will be no impact on its business relationship with customers, it said.
Reporting by Tova Cohen; Editing by Steven Scheer