Aug. 25 (Bloomberg) -- Haruo Matsuno, who stepped down as Advantest Corp. president this month because of a health issue, has died after a brain hemorrhage. He was 54.
Matsuno, who started with Advantest in 1984, passed away August 23 due to a subarachnoid hemorrhage, the Tokyo-based maker of electronic measuring instruments said in a statement today. Advantest cited a “sudden illness” for his decision to step down on August 7 after more than five years leading the company, with Shinichiro Kuroe taking over as president.
Since Matsuno became president in June 2009 Advantest lost about a third of its market value as consolidation in the semiconductor industry crimped demand for its testing equipment. The company also makes medical devices and pharmaceuticals, according to the company’s website.
“We don’t think there is a big impact on our business as we changed our presidents on August 7,” Satsuki Tsuruta, a spokeswoman for Advantest, said by phone today.
Shares of Advantest fell 0.3 percent to 1,178 yen as of 10:46 a.m. in Tokyo.
Only one analyst of the 17 tracked by Bloomberg recommends buying the stock. There are seven holds and nine sell ratings.
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