Spansion Inc. Acquires Distribution Business From Former Japanese Subsidiary

TOKYO, May 24 /PRNewswire-FirstCall/ -- Spansion Inc., a leading Flash memory solutions provider, today announced its new Japanese subsidiary, Spansion Nihon Limited, has acquired the distribution business of Spansion Japan, Spansion's former subsidiary.  The applications engineering, customer service, marketing, quality and sales functions from Spansion Japan seamlessly transition to Spansion Nihon and will continue to operate from their current Kawasaki location.  Leading the new organization is Shinji Suzuki, president of Spansion Nihon, who rejoins Spansion after retiring in July of 2006.

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"Japan is a strategic market for Spansion Inc. and we are pleased to welcome Shinji Suzuki to lead our organization," said John Kispert, Spansion president and CEO.  "With the acquisition complete, Spansion Nihon will be exclusively focused on serving the unique needs of our Japanese customers."

Spansion Nihon will continue to serve the Japan market primarily through the Fujitsu sales channel, extending a longstanding partnership between Spansion and Fujitsu that dates back to 2003 when AMD and Fujitsu created Spansion.  Spansion Japan, located in Aizu-Wakamatsu, continues to manufacture wafers and provide sort services for Spansion on a foundry basis.

"I'm honored to be working with Spansion again and look forward to providing our Japanese customers with the high levels of quality and support they have come to expect from Spansion," said Shinji Suzuki, president, Spansion Nihon.  

The acquisition of the Spansion Japan distribution business follows a successful corporate reorganization of Spansion Inc., which resulted in the emergence from U.S. Chapter 11 restructuring on May 10, 2010.  

On February 9, 2009, Spansion Japan voluntarily entered into a proceeding under the Corporate Reorganization Law (Kaisha Kosei Ho) of Japan to obtain protection from its creditors as part of the company's restructuring efforts.  During the Chapter 11 process, Spansion separated from Spansion Japan operationally and for financial reporting purposes.  As of today, Spansion continues to own the stock of Spansion Japan. Spansion Japan filed its plan of reorganization on April 26, 2010 and continues to work through approval of its plan.

About Spansion

Spansion's (NYSE Amex: CODE) technology is at the heart of electronics systems, powering everything from the internet of today to the smart grid of tomorrow, positively impacting people's daily lives at work and play. Spansion's broad Flash memory product portfolio, smart innovation and industry leading service and support are enabling customers to achieve greater efficiency and success in their target markets. For more information, visit http://www.spansion.com.

Spansion(R), the Spansion logo, MirrorBit(R), MirrorBit(R) Eclipse(TM), ORNAND(TM), EcoRAM(TM) and combinations thereof, are trademarks and registered trademarks of Spansion LLC in the United States and other countries. Other names used are for informational purposes only and may be trademarks of their respective owners.

SOURCE Spansion Inc.