News
 

Bookmark and Share

(0) 

Completing a merger transaction between the former NEC Electronics Corp. and Renesas Technology Corp., the newly established Renesas Electronics Corp. has announced that it had commenced business operations.

NEC Electronics, semiconductor manufacturing division of NEC, and Renesas, a joint venture between Hitachi and Mitsubishi Electric, agreed almost a year ago to enter into negotiations to integrate business operations at NEC Electronics and Renesas.

Renesas Electronics will focus on three areas of technology expertise, including microcontrollers, SoC solutions, and analog & power devices. The company aims to generate synergies to establish a strong new semiconductor company that is capable of consistently achieving high earnings in order to withstand changing semiconductor market conditions. In addition, Renesas Electronics will leverage its resources generated through streamlined operations and focus on expanding businesses in the global market.

Upon approvals from the Renesas Electronics board of directors held on Thursday, Junshi Yamaguchi became the chairman and Yasushi Akao became the President of the board of directors of Renesas Electronics. Renesas Electronics also announced that the company issued shares of its common stock to NEC Corp. Hitachi and Mitsubishi Electric Corp. in exchange for an aggregate of approximately ¥134.6 billion ($1.434 billion).

“Harnessing our collective expertise in new technologies, Renesas Electronics Corporation contributes to a world, where people and the planet prosper in harmony by realizing our vision and building our future,” a statement by the newly formed company reads.

Tags: Renesas, NEC, Hitachi, Mitsubishi, Semiconductor, Business

Discussion

Comments currently: 0

Add your Comment




Related news

Latest News

Tuesday, July 22, 2014

10:40 pm | ARM Preps Second-Generation “Artemis” and “Maya” 64-Bit ARMv8-A Offerings. ARM Readies 64-Bit Cores for Non-Traditional Applications

7:38 pm | AMD Vows to Introduce 20nm Products Next Year. AMD’s 20nm APUs, GPUs and Embedded Chips to Arrive in 2015

4:08 am | Microsoft to Unify All Windows Operating Systems for Client PCs. One Windows OS will Power PCs, Tablets and Smartphones

Monday, July 21, 2014

10:32 pm | PQI Debuts Flash Drive with Lightning and USB Connectors. PQI Offers Easy Way to Boost iPhone or iPad Storage

10:08 pm | Japan Display Begins to Mass Produce IPS-NEO Displays. JDI Begins to Mass Produce Rival for AMOLED Panels

12:56 pm | Microsoft to Fire 18,000 Employees to Boost Efficiency. Microsoft to Perform Massive Job Cut Ever Following Acquisition of Nokia