LITTELFUSE INC DE
For the period ended Dec 30, 2023. Filed Feb 16, 2024.
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FY2023 · Filed Feb 16, 2024
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18. Related Party Transactions
- Related Party Transactions
As a result of the Company’s acquisition of IXYS, the Company has equity ownerships in various investments that are accounted for under the equity method. The following is a description of the investments and related party transactions.
Powersem GmbH: The Company owns 45% of the outstanding equity of Powersem GmbH (“Powersem”), a module manufacturer based in Germany.
EB-Tech Co., Ltd.: The Company owns approximately 19% of the outstanding equity of EB-Tech Co., Ltd. (“EB Tech”), a company with expertise in radiation technology based in South Korea.
Automated Technology (Phil), Inc.: The Company owns approximately 24% of the outstanding common shares of Automated Technology (Phil), Inc. (“ATEC”), a supplier located in the Philippines that provides assembly and test services.
| Fiscal Year Ended | ||||||
|---|---|---|---|---|---|---|
| December 30, 2023 | December 31, 2022 | |||||
| (in millions) | Powersem | EB Tech | ATEC | Powersem | EB Tech | ATEC |
| Sales to related party | $2.1 | $— | $— | $— | $— | $— |
| Purchase of material/services from related party | 4.3 | 0.4 | 9.0 | 0.3 | 0.4 | 11.5 |
| Accounts receivable balance | — | — | — | — | — | — |
| Accounts payable balance | $0.5 | $— | $1 | $— | $— | $1.8 |
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