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
Trinamic's stepper motor package gets you started
August 29, 2014
This month, Trinamic Motion Control is offering you to win one of four TMCM-1043 development kits for its highly integrated, ...
Winged parcel delivery: Google's way
Two-inch Super AMOLED display fits Samsung smartwatch plans
Dutch startup shrinks 60GHz radars, increases precision
Google glass: App measures facial expression
Forget iPhone: 4 megatrends in China’s smartphone market
August 28, 2014
Touch Taiwan, an international touch-panel and optical film exhibition that opened here Wednesday, is exposing some of Asia’s ...
Foldable AMOLED features interactive touch control
Lantronix to fill digital classrooms' printing gap with PAL programme
Circular P-OLED display gives wearable device classic style
- Power Modules: The New Super Power
- Digital Power Management Reduces Energy Costs While Improving System Performance
- Using RF Recording Techniques to Resolve Interference Problems
- How to Protect & Monetize Android Apps
InterviewCEO interview: Tronics' Langlois makes moves in MEMS
Pascal Langlois has been CEO at Tronics for nine months. He discusses plans for the company and directions for the complex and diverse MEMS technology sector.
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...Read more
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.