31 Jan 2017
TOKYO, Japan, January 31, 2017 – Renesas Electronics Corporation (TSE: 6723, “Renesas”), a premier supplier of advanced semiconductor solutions, and its wholly owned subsidiary Renesas Semiconductor Package & Test Solutions Co., Ltd. today announced that Renesas Semiconductor Package & Test Solutions and Hitachi Maxell, Ltd. (TSE: 6810, “Maxell”) signed a definitive agreement under which Renesas Semiconductor Package & Test Solutions will transfer its electronics engineering service business as well as its image recognition system business. The three companies aim to complete the transfer of ownership of the businesses on May 1, 2017.
The businesses to be acquired by Maxell include: the electronics engineering and manufacturing service of electronic control boards for use in various industrial equipment and other semiconductor manufacturing equipment; and development, manufacturing and sale of image recognition systems, which had been acquired at the time of the establishment of Renesas Semiconductor Package & Test Solutions in 2014 through the absorption of Haguro Electronics Co., Ltd. (established in 1983) as a business division of Renesas Semiconductor Package & Test Solutions.
Although the above businesses continue to generate profit, they are not strategically aligned with the Renesas Group business direction, which center around the design, development, manufacturing, and sale of semiconductor devices and solutions. Accordingly, Renesas has been searching for a partner capable of growing and generating synergy effects from these businesses.
After carefully considering a candidate buyer from the viewpoint of potential future growth of the businesses and synergies with them, Renesas Semiconductor Package & Test Solutions with Maxell today concluded a definitive agreement that will transfer ownership of the businesses to Maxell, which has heretofore pursued a corporate policy aimed at boosting its manufacturing capabilities and intends to utilize these businesses to further expand its own businesses.
Maxell plans to actively make use of the development, manufacturing, and sales capabilities of the image recognition systems, which have been built up over many years, to expand its businesses in the growth areas, while also strengthening its profitability by leveraging synergies that will be generated from the design expertise and assets of the electronics engineering and manufacturing service business.
Renesas is currently evaluating the impact from this transfer on its consolidated financial forecasts and intends to disclose details in compliance with the disclosure rules once such impact is confirmed.
Overview of Businesses Subject to Transfer
The electronics engineering and manufacturing service business of electronic control boards primarily for use in various industrial equipment and other semiconductor manufacturing equipment, and the image recognition system business, which comprises development, manufacturing and sale of the company’s own products, of Renesas Semiconductor Package & Test Solutions Co., Ltd.
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723) delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live. A global leader in microcontrollers, analog, power, and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, infrastructure, and IoT applications that help shape a limitless future. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, and YouTube.
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