Singapore, 22 November 2007 – Drew & Napier LLC (“Drew”) acted as counsel to the acquisition of the semiconductor business by Tomen Electronics Corp. (“Tomen”) and its two subsidiaries (i.e., Tomen (Singapore) Electronics Pte. Ltd. and Tomen Electronics (Hong Kong) Ltd.) from Ingram Micro Asia Pacific Pte. Ltd. and its subsidiaries. The two parties signed the Sales and Purchase Agreement and the Transitional Services Agreement on 22 November 2007.

The total size of the acquisition is approximately $19 million (approximately JPY 2.1 billion), effective 17 December 2007.

Tomen is an importer and trader focusing on foreign-made semiconductors, providing the market with products which incorporate the world’s latest technologies. Their customers are more than 1,000. And they are involved in a wide range of areas such as computers, telecommunications, electronic household appliances, amusement products and automotives. They have established six overseas subsidiaries, one representative office and one overseas group company. As many companies have accelerated the shift of their manufacturing bases to the APEC region including China, the APEC semiconductor market has spread rapidly and now accounts for nearly 50% of the global market. Having defined the APEC region as the most important market, Tomen plans to extend their distribution network there and increase benefits for customers by enhancing technical support along with even better procurement and logistic services.