News Article
Japan Joins Up Ventures
Hitachi and Mitsubishi Electric have reached a basic agreement to establish
a new semiconductor company, Renesas Technology, that will focus on system
LSI operations. The new company will be established on April 1, 2003. This
agreement is a result of discussions to integrate system LSI businesses
agreed on March 18, 2002.
Both companies' semiconductor operations will be moved to the new company,
including microcomputer, logic, analog and discrete devices and memory
(flash memory, SRAM, . . .) with the exception of DRAMs (see below).
Existing employment contracts will be honored in accordance with the legal
requirements.
Overall, Renesas Technology plans to achieve sales of more than JPY900bn in
FY 2003, its first year of operation. The new unified brand, RENESAS is
derived from Renaissance Semiconductor for Advanced Solutions.
including microcomputer, logic, analog and discrete devices and memory
(flash memory, SRAM, . . .) with the exception of DRAMs (see below).
Existing employment contracts will be honored in accordance with the legal
requirements.
Overall, Renesas Technology plans to achieve sales of more than JPY900bn in
FY 2003, its first year of operation. The new unified brand, RENESAS is
derived from Renaissance Semiconductor for Advanced Solutions.
