Foxconn Interconnect Technology (FIT), A Foxconn Group company that makes electronic connectors and precision components, has disclosed it will subscribe to shares issued by Japan-based optical lens module maker Kantatsu at JPY5.905 billion (US$54.4 million).

The latest investment will increase FIT's stake in Kantatsu to 28.36%, up from the 4.60% it acquired in Japnuary 2019.

Foxconn-affiliated Sharp holds a 49.93% in Kantatsu, and aftter FIT's additional investment, he Foxconn Group will have 78.29% of Kantatsu.

FIT will cooperate with Kantatsu and Taiwan-based Zhong Yang Technology - a Foxconn subsidiary making optical lens molds - to develop and produce optical lens modules for use in smartphones and ADAS (advanced driver assistance system), FIT chairman Sidney Lu said.

By: DocMemory
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