Renesas Electronics Announces Results of Early Retirement Program

27 Aug 2014

TOKYO, Japan, August 27, 2014 — Renesas Electronics Corporation (TSE: 6723), a premier supplier of advanced semiconductor solutions, today announced the results of its early retirement program for employees in Japan, announced on July 9, 2014, with details as follows.

 

1. Outline of the early retirement program

Eligibility:
As announced in the press release, “Renesas Electronics Announces Reorganization Aimed at Strengthening of Design and Development Systems” dated July 9, 2014, Renesas is working to reorganize the design and development functions of Renesas Electronics Corporation and design, development and application technology functions of its wholly-owned subsidiaries. Among the employees of Renesas Electronics and affiliate companies who are subject to this reorganization:
・Employees who will be transferred to Takasaki site as a result of the reorganization, etc.
# of applicants:
No upper limit or target had been placed
Application period:
August 7, 2014 to August 21, 2014
Retirement date:
September 30, 2014
Benefits:
Renesas Electronics will offer special incentives in addition to their retirement payment to employees voluntarily taking early retirement. In addition, outplacement support will be provided through an outside agency for those who request it.

2. Results

361 applicants

3. Impact on Renesas Electronics' financial forecasts

Renesas Group expects to record special loss of approximately 2.1 billion yen for the three months ending September 30, 2014. Renesas anticipates the program will result in reduction of annual personnel cost by approximately 3.9 billion yen.

 

The impact of the early retirement program on Renesas Group's business performance has already been incorporated into the consolidated financial forecasts for the six months ending September 30, 2014, announced on August 6, 2014.

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.


The content in the press release, including, but not limited to, product prices and specifications, is based on the information as of the date indicated on the document, but may be subject to change without prior notice.