The Fife operation of Micronas, the Swiss-owned group being sold to Japanese electronics manufacturer TDK for £150 million, saw its pre-tax profits surge last year.
Micronas, with a base in Glenrothes and head office in Dunfermline, makes switchgear and control systems for the global motor manufacturing industry.
In Fife, where it has a workforce of 76, Micronas provides final testing, quality assurance and logistics for the wider group.
The Scottish operation is focused on automotive controllers and Hall sensors and switches devices used for engine ignition timing, tachometers and other applications.
Accounts lodged with Companies House show that Micronas had a 2.3% rise in turnover at £4.46 million last year.
After factoring in a tenfold rise in other income of more than £153,000, the pre-tax profit was 15 times higher at £289,547.
Micronas UK managing director Derek Hampson said he could not discuss details of the 2015 performance owing to the takeover.
In his report with the accounts, he said Micronas in Fife “continues to be an efficient and cost-effective production facility”.
The firm intends to continue and increase the supply of Hall effect sensors and controllers to the automotive industry in 2016.
He added: “In combination with a planned capital investment of £1.73m for new test/handler systems, we aim to strengthen the business to ensure our future competitiveness.”
The Fife-based firm’s immediate parent company is in Germany, with the ultimate controlling entity Micronas Semiconductor Holding AG of Zurich.
TDK’s takeover, due to be concluded next month, recognises the significant technological expertise of Micronas.
It also reflects the growing importance of magnet sensors in industrial and automotive electronics.
Takehiro Kamigama, president and chief executive of TDK Corporation, said: “Thanks to an extensive experience in the automotive industry and considerable human talent within Micronas, we are able to significantly strengthen our magnetics technology capabilities as TDK’s core technology and we also intend to develop a new business field.”
Shigenao Ishiguro, senior vice-president of TDK, said: “We believe this acquisition is a perfect combination that enables complementaries from production to sales within both companies.”