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

Monday, April 14, 2014

8:23 am | Microsoft Vows to Release Xbox 360 Emulator for Xbox One. Microsoft Xbox One May Gain Compatibility with Xbox 360 Games

Tuesday, April 1, 2014

10:39 am | Microsoft Reveals Kinect for Windows v2 Hardware. Launch of New Kinect for Windows Approaches

Tuesday, March 25, 2014

1:57 pm | Facebook to Acquire Virtual Reality Pioneer, Oculus VR. Facebook Considers Virtual Reality as Next-Gen Social Platform

1:35 pm | Intel Acquires Maker of Wearable Computing Devices. Basis Science Becomes Fully-Owned Subsidiary of Intel

Monday, March 24, 2014

10:53 pm | Global UHD TV Shipments Total 1.6 Million Units in 2013 – Analysts. China Ahead of the Whole World with 4K TV Adoption

10:40 pm | Crytek to Adopt AMD Mantle Mantle API for CryEngine. Leading Game Developer Adopts AMD Mantle

9:08 pm | Microsoft Unleashes DirectX 12: One API for PCs, Mobile Gadgets and Xbox One. Microsoft Promises Increased Performance, New Features with DirectX 12

3:33 pm | PowerVR Wizard: Imagination Reveals World’s First Ray-Tracing GPU IP for Mobile Devices. Imagination Technologies Brings Ray-Tracing, Hybrid Rendering Modes to Smartphones and Tablets

2:00 pm | Nokia Now Expects to Close Deal with Microsoft in Q2. Sale of Nokia’s Division to Close Next Month