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| NEC Electronics in Talks to Combine with Renesas Tachnology |
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Tokyo, Apr 28, 2009 (JCN) - NEC Electronics Corp is in talks to combine with Renesas Technology Corp in a merger that would create Japan's biggest chipmaker as shrinking demand for semiconductors spurs the industry to consolidate.
NEC Electronics said it was considering options to improve competitiveness including a tie-up with privately held Renesas and had not come to a decision. Renesas, a semiconductor venture of Hitachi and Mitsubishi Electric Corp, and NEC Electronics, the chip unit of NEC Corp, aimed to reach an agreement this month and combine by April next year.
A merger would create Japan's biggest chipmaker with annual sales of more than 1.2 trillion yen (US$12.3 billion). Chipmakers are seeking to consolidate as the global recession drives down demand for chips used in vehicles, flat-panel televisions and mobile telephones. Semiconductor industry sales were projected to fall 24 percent this year.
NEC Electronics and Renesas compete in the production of microcontrollers, mini-computers dedicated to a specific function, such as operating a liquid-crystal display in a microwave oven, cruise-control in a car, or remote control for a digital versatile disc player. They also make chips that operate LCDs.
Falling prices for computer memory forced Taiwan's government to try to reorganize the US$23.6 billion industry that had record losses in the past two years, the biggest overhaul chipmakers have seen since 1999.
Copyright © 2010 JCN. All rights reserved. A division of Japan Corporate News Network KK.
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