History
Renesas Electronics started operation in April 2010, through the integration of NEC Electronics Corporation and Renesas Technology Corporation. NEC Electronics was established in November 2002 by a spin-off of the semiconductor operations of NEC. Renesas Technology was established on April 1, 2003, as a joint venture of Hitachi, Ltd. (55%) and Mitsubishi Electric (45%).
In April 2009, Renesas Technology and NEC Electronics reached a basic agreement to merge by around April 2010.
On April 1, 2010 NEC Electronics and Renesas Technology merged forming Renesas Electronics which became the fourth largest semiconductor company according to iSuppli published data.
For the year ended March 31, 2012, Renesas Electronics lost 62.6 billion yen. The Yomiuri Shimbun has reported that the company will eliminate 6,000 jobs, or about 15 percent of its worldwide workforce of 42,000. The company has now recorded losses in both years of its existence.
The company is considering selling, closing, or reducing production at 10 of 18 domestic plants in Japan. If the plan goes ahead, 40,000 other companies are expected to be impacted.
Read more about this topic: Renesas Electronics
Famous quotes containing the word history:
“What you don’t understand is that it is possible to be an atheist, it is possible not to know if God exists or why He should, and yet to believe that man does not live in a state of nature but in history, and that history as we know it now began with Christ, it was founded by Him on the Gospels.”
—Boris Pasternak (1890–1960)
“I cannot be much pleased without an appearance of truth; at least of possibility—I wish the history to be natural though the sentiments are refined; and the characters to be probable, though their behaviour is excelling.”
—Frances Burney (1752–1840)
“We don’t know when our name came into being or how some distant ancestor acquired it. We don’t understand our name at all, we don’t know its history and yet we bear it with exalted fidelity, we merge with it, we like it, we are ridiculously proud of it as if we had thought it up ourselves in a moment of brilliant inspiration.”
—Milan Kundera (b. 1929)