Japan's Disco Hi-tec Corporation announced July 23 it would relocate its regional headquarters to the Waigaoqiao bonded area of the China (Shanghai) Pilot Free Trade Zone (FTZ), according to a local news report.

The new site is expected to be the largest overseas branch of Disco Hi-tec, and will inject new impetus into Shanghai FTZ's integrated circuit (IC) industry.

Xu Wei, secretary-general of the Shanghai Integrated Circuit Industry Association, said that in the face of the COVID-19 epidemic, the IC industry in Shanghai showed a generally stable trend in the first half of 2020 thanks to the efforts made by leading IC enterprises such as Disco Hi-tec.

As one of the world's leading suppliers of key IC equipment, Disco Hi-tec is expected to play an important role in speeding up the quality development of Shanghai's IC industry, Xu said.

Founded in 1998, Disco Hi-tec (China) has been an important part of the company's global strategy, and generated sales revenue of more than 1.2 billion yuan ($171 million) in 2019, with tax revenue over 60 million yuan.

The company's new office building in Waigaoqiao bonded area covers 5,300 square meters, and integrates services such as equipment display and sales, technical assistance, after-sales service and storage.