Renesas axe 5000

Renesas Electronics also plans to scale down current outsourcing of design and development to companies other than Renesas Electronics Group companies to two-thirds of the current volume by March 2013. In addition, as part of its plan to expand overseas businesses, the company will raise the number of overseas employees from 29 percent in the current fiscal year to 32 percent by March 2013. Renesas Electronics believes the faithful implementation of these sales expansion measures will fortify its growth strategies with the aim of achieving 7 to 10 percent CAGR growth for its semiconductor sales from the current fiscal year through March 2013. The company also aims to smoothly implement structuring reform measures and promote cumulative cost containments of approximately 110 billion yen in three years to build a business structure for sustainable and robust growth.