<SEC-DOCUMENT>0001174947-17-000275.txt : 20170301
<SEC-HEADER>0001174947-17-000275.hdr.sgml : 20170301
<ACCEPTANCE-DATETIME>20170301133420
ACCESSION NUMBER:		0001174947-17-000275
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20170301
FILED AS OF DATE:		20170301
DATE AS OF CHANGE:		20170301

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DESWELL INDUSTRIES INC
		CENTRAL INDEX KEY:			0000946936
		STANDARD INDUSTRIAL CLASSIFICATION:	PLASTICS PRODUCTS, NEC [3089]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33900
		FILM NUMBER:		17653002

	BUSINESS ADDRESS:	
		STREET 1:		UNIT 516-517 HONG LEONG INDUSTRIAL
		STREET 2:		COMPLEX #4 WANG KWONG RD
		CITY:			KOWLOON BAY KOWLOON
		STATE:			K3
		BUSINESS PHONE:		2127320030

	MAIL ADDRESS:	
		STREET 1:		UNIT 516-517 HONG LEONG INDUSTRIAL
		STREET 2:		COMPLEX #4 WANG KWONG ROAD
		CITY:			KOWLOON BAY KOWLOON
		STATE:			K3
		ZIP:			00000
</SEC-HEADER>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-align: center"><B>Form 6-K</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>REPORT
OF FOREIGN PRIVATE ISSUER</B><BR>
<B>PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE</B><BR>
<B>SECURITIES EXCHANGE ACT OF 1934</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-align: justify">For the month of:&nbsp;<B>March,
2017</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Commission File Number:&nbsp;<B>001-33900</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 24pt 0 0; text-align: center"><B>DESWELL INDUSTRIES, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">(Translation of registrant&#8217;s name
into English)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>10B, Edificio Associacao Industrial De Macau</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>32 Rua do Comandante Mata e Oliveira,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>Macao Special
Administrative Region, PRC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-align: center">(Address of principal executive office)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 41.4pt 11pt 0">Indicate by check mark whether the registrant files
or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F [X] Form 40-F [&nbsp; ]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt">Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [&nbsp; ]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt">Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [&nbsp; ]</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Deswell Announces Repurchase of Shares from
Former CEO</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">MACAO - (BUSINESS WIRE) &#8211; March 1,
2017 - <B>Deswell Industries, Inc. (Nasdaq: DSWL) </B>(the &#8220;Company&#8221;)&nbsp;today announced that it had completed the
repurchase of 171,000 common shares of the Company (the &#8220;Shares&#8221;) from Mr. Franki Tse Shing Fung (the &#8220;Transaction&#8221;).
Pursuant to the terms of the Transaction, the Company paid Mr. Tse US$1.80 for each Share, resulting in an aggregate purchase price
of US$307,800. Immediately prior to the consummation of the Transaction, the Shares represented approximately 1.065% of the Company&#8217;s
outstanding common shares. The Transaction was consummated pursuant to a stock purchase agreement by and between the Company and
Mr. Tse containing customary terms and conditions, including those described herein. Mr. Franki Tse Shing Fung served as the Company&#8217;s
Chief Executive Officer from February 7, 2007 until November 29, 2013, when he resigned from the Company for personal reasons.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B>About Deswell</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Deswell manufactures
injection-molded plastic parts and components, electronic products and subassemblies, and metallic molds and accessory parts for
original equipment manufacturers (&#8220;OEMs&#8221;) and contract manufacturers at its factories in the People&#8217;s Republic
of China.&nbsp;&nbsp;The Company produces a wide variety of plastic parts and components used in the manufacture of consumer and
industrial products; printed circuit board assemblies using surface mount (&#8220;SMT&#8221;) and finished products such as telephones,
telephone answering machines, sophisticated studio-quality audio equipment and computer peripherals.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">To learn more about
Deswell Industries, Inc., please visit the Company&#8217;s website at www.deswell.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B>Forward-Looking
Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Statements in this
press release that are &quot;forward-looking statements&quot; are based on current expectations and assumptions that are subject
to risks and uncertainties. For example, our statements regarding our expected growth in sales from the electronic division in
the coming year and our efforts to reduce overhead costs in our plastic division are forward-looking statements.&nbsp;&nbsp;Actual
results could differ materially because of the following factors, among others, which may cause revenues and income to fall short
of anticipated levels or our overhead expenses to increase: our dependence on a few major customers; vigorous competition forcing
product price reductions or discounts; the timing and amount of significant orders from our relatively few significant customers;
continuing increases in resin prices that cannot be passed on to customers; unexpected production delays; obsolete inventory or
product returns; losses resulting from fraudulent activity of our customers or employees; labor shortages that increase labor and
costs; changes in the mix of product products we manufacture and sell; adverse currency fluctuations in the renminbi and Hong Kong
dollar when translated to US dollars; potential new accounting pronouncements; and the effects of travel restrictions and quarantines
associated with major health problems, such as the Severe Acute Respiratory Syndrome, on general economic activity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">For further information
regarding risks and uncertainties associated with the Company&#8217;s business, please refer to the &#8220;Risk Factors&#8221;
section of Company&#8217;s Annual Report on Form 20-F, copies of which may be obtained from the Website maintained by the Securities
and Exchange Commission at http://www.sec.gov.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">All information in
this release is made as of the date of this press release.&nbsp;&nbsp;Deswell undertakes no duty to update any forward-looking
statement to conform the statement to actual results or changes in Deswell&#8217;s expectations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B>Investor Relations
Contact:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">John Nesbett/Jennifer
Belodeau</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Institutional Marketing
Services (IMS)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">203.972.9200</P>

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<P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 22.5pt"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 22.5pt"><B>&nbsp;</B></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 22.5pt">Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">For and on behalf of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">Deswell Industries, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">By:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in"><U>/s/ Edward So&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">Edward So</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">Chief Executive Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Date: March 1, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">&nbsp;</P>

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