Renesas Electronics Corporation (TSE: 6723, “Renesas”), a premier supplier of advanced semiconductor solutions, announced that all of its shares owned by INCJ, Ltd. (“INCJ”) have been sold by INCJ (“the sale,” excluding 75 shares which do not meet the trading unit of 100 shares). This indicates a successful exit by the Japanese state-backed fund from its investment in Renesas that supported Renesas’ transformation to profitability.

“10 years have passed since we invested in Renesas to support its growth in the rapidly changing semiconductor industry. Through methodical implementation of structural reforms, Renesas has transformed into a company capable of generating sustainable profits,” said Toshiyuki Shiga, Chairman and CEO of INCJ. “Renesas has established a strong presence in the global semiconductor industry, through steadfast execution of large-scale acquisitions and post-merger integrations. We look forward to seeing Renesas excel and grow further under a diverse shareholder structure.”

“On the momentous 10-year mark of INCJ’s investment, we have achieved the milestone of INCJ selling all of our shares,” said Hidetoshi Shibata, President and CEO of Renesas. “We appreciate INCJ’s investment and support to date. INCJ greatly contributed to laying our foundation for growth. We are committed to accelerate our next phase of growth, aspiring to become the leader in embedded semiconductor solutions.”

On September 30, 2013, Renesas issued shares in a third-party allotment to INCJ and others, where the ownership ratio of INCJ among all Renesas shares (“ownership ratio”) became 69.15% on the date. From 2017 onwards, INCJ has been selling down its shareholding in stages, decreasing its ownership ratio to 7.38% as of November 13, 2023. After the completion of this sale, INCJ’s ownership ratio will be 0.00%.

About Renesas Electronics Corporation

Renesas Electronics Corporation (TSE: 6723) empowers a safer, smarter and more sustainable future where technology helps make our lives easier. The leading global provider of microcontrollers, Renesas combines our expertise in embedded processing, analog, power and connectivity to deliver complete semiconductor solutions. These Winning Combinations accelerate time to market for automotive, industrial, infrastructure and IoT applications, enabling billions of connected, intelligent devices that enhance the way people work and live. 

▼▼▼

Cadence and Autodesk collaborate on smart product design

GPU tech supplier Imagination Technologies lays off 20% of staff

Elephantech Secures Approximately ＄65.93 million in Funding with the metal inkjet printing technology

Micron is being sued by China's leading memory chip maker YMTC for patent infringement in the US

Power outage hits Onsemi's Bucheon facility, possible shutdown for two weeks

Qualcomm and Iridium end their satellite chip partnership

......

Read more latest news about the PCB and semiconductor industry here