Notice Concerning Capital Injection Changes for the NEC Electronics and Renesas Business Integration

http://www.businesswire.com/news/home/20091108005066/en

KAWASAKI, Japan & TOKYO--(Business Wire)--
NEC Electronics Corporation (NEC Electronics; TSE: 6723), Renesas Technology
Corp. (Renesas), NEC Corporation (NEC; TSE: 6701), Hitachi, Ltd. (Hitachi; TSE:
6501 / NYSE: HIT), and Mitsubishi Electric Corporation (Mitsubishi Electric;
TSE: 6503) today announced changes concerning the capital injection listed in
its September 16, 2009 press release entitled "NEC Electronics and Renesas Reach
a Definitive Agreement on Business Integration."

1. Reason for the Changes

In accordance with the plan to integrate business operations at NEC Electronics
and Renesas (the "Business Integration"), the five companies announced on
September 16 that Renesas will issue shares of Renesas common stock to Hitachi
and Mitsubishi Electric, the sole shareholders of Renesas, before the effective
date of the Business Integration (the "Pre-merger Capital Injection"). In
addition, after the scheduled date of the Business Integration, April 1, 2010,
the new integrated company after the Business Integration (the "Integrated
Company") will issue shares of its common stock to NEC, Hitachi and Mitsubishi
Electric (the "Post-merger Capital Injection").

The five companies also announced that the amount of the Pre-merger Capital
Injection could be reduced and the amount of the Post-merger Capital Injection
could be increased depending on the business result of NEC Electronics for the
first half of the fiscal year ending March 31, 2010.

Today`s changes were made due to NEC Electronics` financial results, which were
settled today, November 9, 2009. The changes in Post-merger Capital Injection
were resolved at NEC Electronics` meeting of the Board of Directors held earlier
today.

2. Outline of the Changes

The changes are underlined.

2.1 Outline of reinforcement of capital

As a condition to the Business Integration, Renesas will issue shares of Renesas
common stock to Hitachi and Mitsubishi Electric, the sole shareholders of
Renesas, in exchange for an aggregate of 71.7 billion yen before the effective
date of the Business Integration (including shares issued on September 29, 2009
in exchange for an aggregate of 55.0 billion yen). In addition, on the effective
date of the Business Integration (scheduled to be April 1, 2010), the Integrated
Company will issue shares of its common stock to NEC, Hitachi and Mitsubishi
Electric in exchange for an aggregate of approximately 134.6 billion yen.

2.2 Outline of the third-party allotment of new shares after Business
Integration

2.2.1 Outline of Post-merger Capital Injection

(1) Issuer Renesas Electronics Corporation (Tentative name)
(2) Date of issuance April 1, 2010 (Note 1)
(3) Number of new shares to be issued 146,782,990 of common shares
(4) Issue price 917 yen
(5) Total proceeds 134,600,001,830 yen
(6) Purchaser Third-party allotment (Note 2)

(NEC: 61,395,857 shares,
Hitachi: 46,962,923 shares,
Mitsubishi Electric: 38,424,210 shares)
(7) Others None

Note 1: The new shares will be issued at the same date as the effective date of the Business Integration. The schedule is subject to change based upon the effective date of the Business Integration.

Note 2: In accordance with Art. 124 §4 of the Corporation Law, on the day of the ordinary shareholders meeting of the Integrated Company which is scheduled to be held in June 2010, NEC, Hitachi and Mitsubishi Electric will acquire voting rights of the new Integrated Company.

2.2.2 Major stockholders and ownership ratio of Renesas Electronics Corporation
after the execution of the Business Integration and the third-party allotment

NEC Corporation 33.97%
Hitachi, Ltd. 30.62%
Mitsubishi Electric Corporation 25.05%
Japan Trustee Services Bank, Ltd. (Note) 1.49%
(Trust Account from The Sumitomo Trust and Banking Co., Ltd. for retirement benefit Trust Account of NEC Corporation)

Note: 1.49% of shares which are owned by Japan Trustee Services Bank, Ltd.
(Re-trust of The Sumitomo Trust and Banking Co., Ltd./NEC Corporation pension
and severance payments Trust Account) were shares that were contributed by NEC
as severance indemnities trusts. The voting rights of such shares will be
exercised at the instruction of NEC.

About NEC Electronics

NEC Electronics Corporation (TSE: 6723) specializes in semiconductor products
encompassing advanced technology solutions for the high-end computing and
broadband networking markets, system solutions for the mobile handset, PC
peripheral, automotive and digital consumer markets, and multi-market solutions
for a wide range of customer applications. NEC Electronics Corporation has
subsidiaries worldwide including NEC Electronics America, Inc. and NEC
Electronics (Europe) GmbH. For additional information about NEC Electronics
worldwide, visit www.necel.com.

About Renesas Technology Corp.

Renesas Technology Corp. is the world's No.1 supplier of microcontrollers and
one of the world's leading semiconductor system solutions providers for mobile,
automotive and PC/AV (Audio Visual) markets. It is also a leading provider of
Power MOSFETs, Smart Card microcontrollers, RF-ICs, High Power Amplifiers, Mixed
Signal ICs, System-on-Chip (SoC), System-in-Package (SiP) and more. Established
in 2003 as a joint venture between Hitachi, Ltd. (TSE:6501, NYSE:HIT) and
Mitsubishi Electric Corporation (TSE:6503), Renesas Technology achieved
consolidated revenue of 702.7 billion JPY in FY2008 (end of March 2009). Renesas
Technology is based in Tokyo, Japan and has a global network of manufacturing,
design and sales operations in 16 countries with 25,000 employees worldwide. For
further information, please visit http://www.renesas.com.

About NEC Corporation

NEC Corporation is one of the world's leading providers of broadband network and
enterprise business solutions dedicated to meeting the specialized needs of a
diversified global base of customers. NEC delivers tailored solutions in the key
fields of computer, networking and electron devices, by integrating its
technical strengths in IT and Networks, and by providing advanced semiconductor
solutions through NEC Electronics Corporation. The NEC Group employs more than
140,000 people worldwide. For additional information, please visit the NEC
website at: http://www.nec.com.

About Hitachi

Hitachi, Ltd., (NYSE: HIT / TSE: 6501), headquartered in Tokyo, Japan, is a
leading global electronics company with approximately 400,000 employees
worldwide. Fiscal 2008 (ended March 31, 2009) consolidated revenues totaled
10,000 billion yen ($102.0 billion). The company offers a wide range of systems,
products and services in market sectors including information systems,
electronic devices, power and industrial systems, consumer products, materials,
logistics and financial services. For more information on Hitachi, please visit
the company's website at http://www.hitachi.com.

About Mitsubishi Electric

With over 80 years of experience in providing reliable, high-quality products to
both corporate clients and general consumers all over the world, Mitsubishi
Electric Corporation (TOKYO: 6503) is a recognized world leader in the
manufacture, marketing and sales of electrical and electronic equipment used in
information processing and communications, space development and satellite
communications, consumer electronics, industrial technology, energy,
transportation and building equipment. The company recorded consolidated group
sales of 3,665.1 billion yen (US$ 37.4 billion*) in the fiscal year ended March
31, 2009. For more information visit http://global.mitsubishielectric.com.

*At an exchange rate of 98 yen to the US dollar, the rate given by the Tokyo
Foreign Exchange Market on March 31, 2009.

NEC Electronics Corporation
Kyoko Okamoto, + 81-44-435-1676
kyoko.okamoto@necel.com
or
NEC Corporation
Kosuke Yamauchi, + 81-3-3798-6511
k-yamauchi@ce.jp.nec.com
or
Renesas Technology Corp.
Yoichi Kobayashi, +81-3-6756-5555
kobayashi.yoichi2@renesas.com
or
Renesas Technology America, Inc.
Stefani Parrish, 408-382-7410
stefani.parrish@renesas.com
or
Hitachi, Ltd.
Atsushi Konno, +81-3-5208-9325
PR@hdq.hitachi.co.jp
or
Mitsubishi Electric Corporation
Yurika Fujimoto, + 81-3-3218-3380
prd.gnews@nk.MitsubishiElectric.co.jp

Copyright Business Wire 2009