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© kheng-guan-toh-dreamstime.com Business | February 19, 2014

Corporate changes at Renesas in Japan

Renesas Electronics Corporation will reorganise its manufacturing-related group companies in Japan by absorbing-type separations and absorbing-type mergers.

This reform plan that the company is implementing, aims to achieve growth and profitability with a two-digit operating profit ratio as its target for the end of fiscal year 2017. To reach this, Renesas' semiconductor manufacturing business, at the front-end and back-end manufacturing sites will undergo consolidation and the reorganisation of (manufacturing -related) group companies, with Renesas Electronics and its subsidiaries in Japan as the affected parties. And here comes the part that makes my head spin, are you ready for it? - Ok here we go. In an absorption-type separation, the crystal business of Renesas Northern Japan Semiconductor, will be spun off and absorbed by Renesas Kofu Semiconductor. After that, all the shares of Renesas Kofu Semiconductor will be spun off from Renesas Northern Japan Semiconductor and absorbed by Renesas Naka Semiconductor in an absorption-type separation. As a result, Renesas Kofu Semiconductor will become a wholly-owned subsidiary of Renesas Naka Semiconductor. Ok, so far its not to complicated, let go on. After that implementation, Renesas Naka Semiconductor, Renesas Semiconductor Engineering Corp. and Renesas Kofu Semiconductor will undergo an absorption-type merger, with Renesas Naka Semiconductor as the surviving company and Renesas Semiconductor Engineering and Renesas Kofu Semiconductor as the absorbed companies. And after this, the semiconductor front-end production business of Renesas Semiconductor Kyushu Yamaguchi will be spun off and absorbed by Renesas Kansai Semiconductor In an absorption-type separation. Which will lead to yet another merger where, Renesas Kansai Semiconductor and Renesas Naka Semiconductor will undergo an absorption-type merger, with Renesas Kansai Semiconductor as the surviving company and Renesas Naka Semiconductor as the absorbed company. If your head isn't spinning just yet, don't worry, we still have some ways to go. But luckily, I'll end it all now with a illustration of how the structure will look after the reorganasation. © Renesas
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