On Semiconductor (ON)

[llessurK]

ONNN finally broke out of that stubborn $10 resistance:



New Japan distribution channel and non toxic share buyback program in the works. Looks good going into 2015:

ON Semiconductor Announces New Distribution Channel Partners to Expand Business and Support Customers in Japan and Asia-Pacific

Japan-based Ryosan Co., Ltd. and Macnica Inc. have signed distribution sales franchise agreements with ON Semiconductor to drive business for all product lines in the region

PHOENIX--(BUSINESS WIRE)--December 03, 2014--

ON Semiconductor (Nasdaq: ONNN), driving energy efficiency innovations, has announced new distribution channel partner agreements with two multi-national electronics trading franchises based in Japan. Ryosan Co., Ltd. and Macnica Inc. join the roster of ON Semiconductor channel sales partners to help expand domestic sales within Japan and work to drive sales growth in China and other Asia-Pacific geographies.

Both companies have demonstrated experience in supporting a broad range of electronic systems and components with a focus on semiconductor devices. Each of these new partners has been granted rights to sell all ON Semiconductor product lines in Japan and the Asia-Pacific region, but will focus heavily on expanding sales in the automotive and industrial segments.

Ryosan Company, Limited has more than 60 years of experience in the electronics space. This technology trading company undertakes the sale of semiconductors, electronic components and electronic equipment. Semiconductors have been a key focus for Ryosan and the company is expanding the field of technical support for electronic components and embedded devices to provide system solution to customers. From its headquarters in Tokyo, Ryosan operates approximately 50 operating bases located primarily in Japan and Asia. In 2014, Ryosan established the subsidiary RINNOVENT Co., Ltd. which will handle ON Semiconductor's products in Japan.

Macnica, Inc. has more than 40 years of experience in services and high-value products, including semiconductor components, electronic devices, network equipment and software. Primarily, Macnica supports Japanese and international electrical and electronics manufacturers who lead the information and telecommunication industry. The company has focused on providing technical support and has been expanding its global network with operations in the U.S., Europe and Asia. To support ON Semiconductor, the company has assigned Altima Corp. for Japan, Macnica Hong Kong Ltd. and Cytech Technology Ltd. for China and Hong Kong, Galaxy Far East Corp. for Taiwan, and Cytech Global Pte Ltd. for ASEAN and India. Prior to ON Semiconductor's acquisition of Aptina Imaging, Macnica was responsible for selling the company's image sensor products and will now continue to do so for ON Semiconductor.

"We are pleased to have Ryosan and Macnica as our new channel partners," said Jeff Thomson, vice president of Global Channel Sales at ON Semiconductor. "By leveraging their extensive business experience and technical expertise in the electronics and semiconductor space within Japan and throughout the Asia Pacific region, we anticipate these new partners will assist us in accelerating sales growth. Both these multi-national franchises will support customers from demand-creation through fulfillment."

Press Release: S&PBulletin: ON Semiconductor Corp. Rtgs Unaffected By Buyback
The following is a press release from Standard & Poor's:

SAN FRANCISCO (Standard & Poor's) Dec. 2, 2014--Standard & Poor's Ratings Services said today that its 'BB+' corporate credit rating and stable outlook on ON Semiconductor Corp. are unchanged following the company's announcement of a $1 billion share repurchase authorization that is to be completed over a four year period.

We expect ON to fund its share repurchases from ongoing free operating cash flow, which we forecast will exceed $300 million per year over the intermediate term. We do not expect ON to incur additional debt to fund the share repurchases and believe the company is still dedicated to reducing leverage by retiring debt coming due over the near term. Overall, this announcement does not alter our view of the company's "modest" financial risk profile. ON's business risk profile remains "fair" and reflects the good growth prospects in its automobile, industrial, and communication end markets.

Under Standard & Poor's policies, only a Rating Committee can determine a Credit Rating Action (including a Credit Rating change, affirmation or withdrawal, Rating Outlook change, or CreditWatch action). This commentary and its subject matter have not been the subject of Rating Committee action and should not be interpreted as a change to, or affirmation of, a Credit Rating or Rating Outlook.

About ON Semiconductor
ON Semiconductor (Nasdaq: ONNN) is driving energy efficient innovations, empowering customers to reduce global energy use. The company offers a comprehensive portfolio of energy efficient power and signal management, logic, discrete and custom solutions to help design engineers solve their unique design challenges in automotive, communications, computing, consumer, industrial, LED lighting, medical, military/aerospace and power supply applications. ON Semiconductor operates a responsive, reliable, world-class supply chain and quality program, and a network of manufacturing facilities, sales offices and design centers in key markets throughout North America, Europe, and the Asia Pacific regions. For more information, visit http://www.onsemi.com.

ON Semiconductor and the ON Semiconductor logo are registered trademarks of Semiconductor Components Industries, LLC. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders. Although the company references its Web site in this news release, such information on the Web site is not to be incorporated herein.