Renesas looks to automotive and smart society to drive recovery
July 18, 2012 // Paul Buckley
Early in July 2012 Japan's Renesas Electronics Corp, the world's fifth-largest chipmaker, announced plans to reduce its workforce by 12 percent and shed half of its domestic plants within three years to be more competitive with overseas rivals. Can Europe help the company hit the road to recovery?
A more global outlook is going to play a key part in the restructuring strategy which Renesas, the world's leading supplier of microcontroller chips, is planning after the company has posted two consecutive years of losses following massive supply disruptions in the wake of natural disasters in Japan and Thailand.
Renesas, a product of successive mergers of the chip divisions of major shareholders Mitsubishi Electric Corp , Hitachi Ltd and NEC Corp, said the job cuts would save the company 43 billion yen ($541.97 million) annually.
In return for the restructuring, the chipmaker is expected to secure 100 billion yen in loans and other forms of financial support from its major shareholders and four banks. Reports in Japan suggest that shareholders have already agreed in principle to provide 50 billion yen in assistance.
Last week EE Times Europe caught up with Robert Green, President and CEO of Renesas Electronics Europe to learn what the company is planning for its major markets in Europe as the company strives to return to profitability.
Renesas has been changing in the past two years and is looking to be less dependent on the Japanese market. We are looking more globally now, said Robert Green, President and CEO of Renesas Electronics Europe. In Financial Year 11 we had the practicalities of earthquake recovery. We managed that and we are now back to normal in terms of shipping to the market but we still have to financially recover from that situation. So this is the task for FY12.
Green continued: The focus of the company has been changing in the past two years. We need to be moving in a more global direction and be less dependent on the Japanese market. We are also focusing on the automotive market and we are very much an automotive company. And in the non-automotive sector the focus is on the so-called smart society which covers the whole development of the connected society and the added intelligence being applied to the new smart infrastructure that we are now seeing more and more.All news
Belgium spin-off takes photonic IC design to the mainstream
September 16, 2014
Imec's investment arm Fidimec and the Flemish spin-off investment fund SOFI I are investing EUR 340k in Founded last June, ...
Tablets to provide growth over flat PC market
Android One debuts in India, ignites next 5 billion battle
ZF swallows TRW Automotive
Is rapid charging batteries really so damaging?
Canadian startup mutualizes iBeacon deployment costs
September 15, 2014
Bluetooth Smart-enabled applications crop up everyday, from personalized remote sensors to proximity detection for home automation, ...
U.S. foundry agrees to help expand China's MEMS ecosystem
Moore's law has no end in sight
OLED panel smashes luminous efficacy and lifetime records
- Flexible and Low Power Driving of Solenoid Coils
- How to Protect & Monetize Android Apps
- Power Modules: The New Super Power
- Flexible Performance for Network Security Appliances
InterviewCEO interview: AMS' Laney on driving a sensor-driven business
Kirk Laney, CEO of Austrian mixed-signal chip and sensor company AMS, wants to leverage the opportunity that technology affords to create new markets for sensors and sensor interfaces.
Filter WizardCheck out the Filter Wizard Series of articles by Filter Guru Kendall Castor-Perry which provide invaluable practical Analog Design guidelines.
Linear video channel
READER OFFERRead more
This month, Trinamic Motion Control is offering you to win one of four TMCM-1043 development kits for its highly integrated, NEMA 17-compatible TMCM-1043 stepDancer stepper motor module.
Offering designers an easy-to-use PC-based GUI that allows one-click modification of motor drive current, micro-stepping and other key parameters, the intuitive kits are custom designed and developed for...MORE INFO AND LAST MONTH' WINNERS...
December 15, 2011 | Texas instruments | 222901974
Unique Ser/Des technology supports encrypted video and audio content with full duplex bi-directional control channel over a single wire interface.