Notice Regarding Transfer of Affiliated Company (Partial Sale of Shares) Accounted for by the Equity Method
2018年7月31日 - 5:00PM
ビジネスワイヤ(英語)
Renesas Electronics Corporation (TSE:6723, “Renesas”), a premier
supplier of advanced semiconductor solutions, today announced its
decision to sell partial shares it owns in Renesas Easton Co., Ltd.
("Renesas Easton") to Renesas Easton as described below. As a
result of the sale, Renesas Easton will no longer be Renesas’
affiliated company accounted for by the equity method.
1. Overview of the share transfer
Renesas will, for the purpose of optimizing its distribution of
management resources, sell 2,500,000 shares of stocks it owns in
Renesas Easton to Renesas Easton effective August 1, 2018. As a
result of this share transfer, Renesas' ratio of voting rights
holdings in Renesas Easton will become 6.1 percent and Renesas
Easton will no longer be Renesas’ affiliated company accounted for
by the equity method.
(Note) Renesas will commission the sales of shares through
Off-Auction Own Share Repurchase Trading System (ToSTNeT-3), The
number of stocks sold may be reduced upon purchase order by a
third-party other than Renesas.
2. Outline of the affiliated company accounted by the equity
method
1
Name Renesas Easton Co., Ltd. 2 Address
2-1, Kanda Tsukasa-machi, Chiyoda-Ku, Tokyo. 3
Title and name of representative Hitoshi
Ishii, President, Representative Director 4 Business
Sale of integrated circuits, semiconductor devices,
display devices, and other electronic components and equipment.
Software development. Design and development of electronic
equipment. 5 Capital 5,042,670,000 JPY
6 Date founded December 23, 1954 7
Relationship between companies listed on stock
exchanges and this company Financial relationship
Renesas holds 3,964,100 shares in Renesas
Easton (Percentage of voting rights: 15.0%), and Renesas Easton is
Renesas’ affiliated company accounted for by the equity method. (as
of July 31, 2018)
Personal relationship None
Business relationship Renesas
Easton purchases integrated circuits and semiconductor devices from
Renesas as its main supplier.
3. Number of shares to be sold and status of share holdings
before and after sale
1. Number of shares held before sale
3,964,100 shares (voting rights: 15.0%) 2. Number of
shares sold 2,500,000 shares 3. Number of shares held
after sale 1,464,100 shares (voting rights: 6.1%)
4. Future prospect
Renesas expects to complete the above-mentioned sale of shares
on August 1, 2018, and the company is currently assessing the
impact the sale will have on its consolidated financial results. If
and when a material impact is expected, Renesas will make an
announcement once the details of the impact become available.
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723) delivers trusted
embedded design innovation with complete semiconductor solutions
that enable billions of connected, intelligent devices to enhance
the way people work and live—securely and safely. A global leader
in microcontrollers, analog, power and SoC products and integrated
platforms, Renesas provides the expertise, quality, and
comprehensive solutions for a broad range of Automotive,
Industrial, Home Electronics, Office Automation and Information
Communication Technology applications to help shape a limitless
future. Learn more at renesas.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20180731005346/en/
Renesas Electronics CorporationMedia ContactsKyoko
Okamoto, +81 3-6773-3001pr@renesas.comorInvestor
ContactsMakie Uehara, +81 3-6773-3002ir@renesas.com