CORRECTION: Renesas Electronics Announces Change in Controlling Shareholder Other Than Parent Company

29 Aug 2018

TOKYO, Japan, August 29, 2018 — Renesas Electronics Corporation (TSE: 6723, “Renesas”), a premier supplier of advanced semiconductor solutions, today announced a correction of its March 9, 2018 press release entitled, ”Renesas Electronics Announces Change in Controlling Shareholder Other than Parent Company.

1. Process leading to correction

On March 9, 2018, Innovation Network Corporation of Japan (“INCJ”) sold 75,026,425 common shares of Renesas to Denso Corporation (“Denso”) through a direct off-market sale. As a result, the ratio of the voting rights held by Denso to the total number of voting rights in Renesas became 5.00 percent and INCJ ceased to be the only controlling shareholder other than parent company as of March 14, 2018 (Note 1).

In the press release entitled “Renesas Electronics Announces Change in Controlling Shareholder Other than Parent Company” dated March 9, 2018, Renesas Electronics announced INCJ would be categorized as an “other related company” as of March 14, 2018. However due to the fact that INCJ’s reason for holding shares in Renesas is to foster investment and to earn capital gains, it was determined that INCJ does not correspond to being an “other related company”, and therefore a correction has been made.

(Note 1) The change in INCJ’s change in status became effective on March 14, 2018 following the completion of the book-entry transfer of shares for the transaction on that date.

2. Outline of the change

1) The last sentence from “1. Events leading up to the change”

The correction is underlined.

[Original Statement]
INCJ, the largest major shareholder of Renesas, will cease to be the only controlling shareholder other than parent company and will be categorized as other related company.

[Revised Statement]
INCJ, the largest major shareholder of Renesas, ceased to be the only controlling shareholder other than parent company.

2) “4. Number and percentage of the voting rights held by INCJ before and after the change” (Note 2)

The correction is underlined.

[Original Statement]

  Category Number of voting rights held
(Percentage of voting rights held)
Voting rights directly held Voting rights to be combined Total
Before the change
(as of March 8, 2018)
  • Controlling shareholder other than parent company
  • Largest major shareholders
8,352,282
(50.10%)
0
(0.00%)
8,352,282
(50.10%)
After the change
(scheduled for March 14, 2018)
  • Other related company
  • Largest major shareholder
7,602,177
(45.60%)
0
(0.00%)
7,602,177
(45.60%)

[Revised Statement]

  Category Number of voting rights held
(Percentage of voting rights held)
Voting rights directly held Voting rights to be combined Total
Before the change
(as of March 8, 2018)
  • Controlling shareholder other than parent company
  • Largest major shareholders
8,352,282
(50.10%)
0
(0.00%)
8,352,282
(50.10%)
After the change
(scheduled for March 14, 2018)
  • Largest major shareholder
7,602,177
(45.60%)
0
(0.00%)
7,602,177
(45.60%)

(Note 2) As of April 26, 2018, Renesas sold 203,359,600 shares which was a portion of Renesas shares owned by INCJ to investors in Japan and abroad. Therefore, as of June 30, 2018, the percentage of voting rights held by INCJ changed to 33.39% (the percentage of voting rights held are rounded off to two decimal places).

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, home electronics, office automation, and information communication technology applications that help shape a limitless future. Learn more at renesas.com.

(Remarks) All names of products or services mentioned in this press release are trademarks or registered trademarks of their respective owners.


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