Global Expansion to Increase Overseas Sales Ratio
17 Feb 2011
SINGAPORE, February 17, 2011 — Renesas Electronics Singapore, a wholly-owned subsidiary of Renesas Electronics Corporation (TSE: 6723), today held an opening ceremony of the branch office located in Bangalore with attendees from the Japanese embassy in India, customers and industrial partners. Renesas Electronics has been strengthening its business in the global market to pursue the growth outside Japan, aiming to increase its overseas sales ratio to 60 percent by FY 2012.
Through the acquisition of Nokia’s wireless modem business, Renesas Mobile Corporation, Renesas Electronics’ subsidiary offering semiconductor solutions for mobile devices, started its operation in December 2010, with R&D facilities in various regions including India. Engaging India’s emerging market is part of Renesas’ overseas business expansion strategy. By strengthening the sales, marketing and technical support in India, Renesas Electronics expects to grow its India business by 20 percent annually. Renesas Electronics is targeting the following segments in India market – Industrial, Consumer and Automotives. Over 100 new products will be developed specifically for this market.
“We are pleased to reach the day we open the first full-scale branch in India”, said Yasushi Akao, President of Renesas Electronics Corporation. “We believe in high-potential growth of the Indian market and are eager to expand our global sales to synchronize their growth. Providing the best semiconductor solutions based on our competitive microcontrollers through the new branch, Renesas aims to double its sales in the Indian market to 100 million dollars by FY2012.
“The establishment of a branch office in India is a major milestone for Renesas Electronics Singapore. Through this office, we will bring to India the cutting-edge technology that Renesas offers globally. I am confident that our MCU-based solutions, new products dedicated for the Indian market, as well as the expanded sales force, will propel us to a leading position in the Indian Semiconductor arena in the near future.“, commented Hideyuki Jake Shimada, Managing Director of Renesas Electronics Singapore.
The new office in Bangalore is located at 777C 100 Feet Road and is staffed by 16 employees. Renesas Electronics plans to increase its manpower to 45 by FY2015. Along with its authorized distributors, Renesas Electronics will have over 80 engineers providing field and technical support for customers in India, by the same fiscal year.
The office reports to Sunil Dhar, who holds the concurrent appointment of a General Manager in Renesas Electronics Singapore. In his current position Sunil, a semiconductor veteran with over 20 years of experience, carries out his function from his offices in India and Singapore and is tasked to lead the company’s growth strategy in India.
“India has emerged as a knowledge-based economy with a huge domestic appetite. It is inevitable that world’s no-1 microcontroller company sets up a strong base in India in order to satiate the needs of Worlds’ no-1 designers and embedded community and hence plugs itself into an ecosystem that is bound to be a major contributor to an evolving ubiquitously networked society.” says Mr. Dhar.
In addition to the new branch office, Renesas Electronics also has regional offices in Mumbai and New Delhi. Together, they will provide timely support to the growing pool of customers throughout India.
About Renesas Electronics Singapore Pte Ltd
A wholly owned subsidiary of Renesas Electronics Corporation (TSE: 6723), the world's number one supplier of microcontrollers, Renesas Electronics Singapore Pte. Ltd. is a premier supplier of advanced semiconductor solutions including microcontrollers, SoC solutions and a broad range of analogue and power devices for the South, South-East Asia and Oceania market. In addition to device sales, the company also provides design services including reference solutions, embedded systems and tools development. More information can be found at http://www.renesas.com.
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