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    6723   JP3164720009

RENESAS ELECTRONICS CORPORATION

(6723)
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Delayed Japan Exchange  -  02:00:00 2023-03-22 am EDT
1820.00 JPY   +1.20%
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Renesas Electronics : and Audi Agree on Strategic Partnership for Audi's Progressive SemiConductor Program

07/13/2015 | 03:27am EDT
Renesas Electronics and Audi Agree on Strategic Partnership for Audi's Progressive SemiConductor Program

TOKYO, Japan, July 13, 2015 - Renesas Electronics Corporation (TSE: 6723), the world's leading provider of microcontrollers and highly-advanced automotive semiconductor solutions, today announced that Renesas and Audi have established a strategic relationship as part of the Audi Progressive SemiConductor Program (PSCP) to accelerate automotive innovation. This strategic relationship covers traditional automotive control areas such as powertrain, chassis, body and safety; driver infotainment and driver assistance systems; and newer application areas including automated drive, connected car and the electrical vehicle.

"Renesas Electronics is a major innovation leader in the semiconductor industry. The company's MONOS flash technology as well as its pioneering role in the development of 28nm process technology are significant proof of this," said Ricky Hudi, Head of Electric/Electronic Development at Audi. "I'm pleased that we have Renesas as an innovative, extremely quality-conscious and reliable partner working with us on our Progressive SemiConductor Program. We will join forces to increase the processing performance, comfort level and intelligence of our cars even further."

"We are pleased to be able to work on this unique program as a strategic partner with Audi," said Ryuji Omura, Executive Vice President of Renesas Electronics Corporation. "We are honoured to have been highly regarded by Audi for our advanced technological strength and state-of-the-art quality. The collaboration with Audi serves as an important opportunity for Renesas to gain deeper understanding of the European automotive marketplace."

About the Audi Progressive SemiConductor Program

Today, between 80 and 90 percent of all car innovations are based directly or indirectly on semiconductors. This is why Audi is developing a core competency in the semiconductor area with its Progressive SemiConductor Program. The Program is designed to rapidly make the latest semiconductor technologies available in cars, while increasing reliability. The aim of the program is to transfer progress in the field of microelectronics more effectively to the car. An important part of it involves being in direct contact with the semiconductor manufacturers and working with them on joint development.

About Renesas Electronics Corporation

Renesas Electronics Corporation (TSE: 6723), the world's number one supplier of microcontrollers, is a premier supplier of advanced semiconductor solutions including microcontrollers, SoC solutions and a broad range of analog and power devices. Business operations began as Renesas Electronics in April 2010 through the integration of NEC Electronics Corporation (TSE:6723) and Renesas Technology Corp., with operations spanning research, development, design and manufacturing for a wide range of applications. Headquartered in Japan, Renesas Electronics has subsidiaries in approximately 20 countries worldwide. More information can be found at www.renesas.com.

(Remarks) All registered trademarks or trademarks are the property of their respective owners.

The content in the press release, including, but not limited to, product prices and specifications, is based on the information as of the date indicated on the document, but may be subject to change without prior notice.

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Financials
Sales 2022 1 481 B 11 199 M 11 199 M
Net income 2022 254 B 1 919 M 1 919 M
Net Debt 2022 522 B 3 947 M 3 947 M
P/E ratio 2022 13,1x
Yield 2022 -
Capitalization 3 232 B 24 432 M 24 432 M
EV / Sales 2022 2,53x
EV / Sales 2023 2,43x
Nbr of Employees 21 036
Free-Float 62,2%
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Number of Analysts 13
Last Close Price 1 798,50 JPY
Average target price 2 174,62 JPY
Spread / Average Target 20,9%
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Managers and Directors
Hidetoshi Shibata Chairman, President & Chief Executive Officer
Shuhei Shinkai Chief Finance Officer & Executive Officer
Shinichi Yoshioka Chief Technology Officer & Executive Officer
Tetsuro Toyoda Independent Non-Executive Outside Director
Jiro Iwasaki Independent Non-Executive Outside Director
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