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Renesas Electronics Corp to Issue New Shares; Announces Changes in Shareholding Structure


Monday, 10 Dec 2012 01:40am EST 

Renesas Electronics Corp announced that it has decided to issue 1,152,917,000 new shares of its common stock to Innovation Network Corporation of Japan, 41,666,600 new shares of its common stock to Toyota Motor Corp, 25,000,000 new shares of its common stock to Nissan Motor Co Ltd, 8,333,300 new shares of its common stock to Keihin Corporation, 4,166,600 new shares of its common stock to CANON INC, 4,166,600 new shares of its common stock to Nikon Corporation, 4,166,600 new shares of its common stock to Panasonic Corporation and 1,250,000 new shares of its common stock to Yaskawa Electric Corporation, at the price of JPY 120 per share or JPY 150,000,000,000 in total, through a private placement, during the period from February 23, 2013 to September 30, 2013. As a result, Innovation Network Corporation of Japan will become parent company of Renesas Electronics with 69.16% voting rights, while Hitachi Ltd's voting rights in Renesas Electronics will become 7.66%, down from 30.62%, Mitsubishi Electric Corp's voting rights in Renesas Electronics will become 6.27%, down from 25.05% and NEC Corporation's voting rights in Renesas Electronics will become 8.87%, down from 35.46%. 

Company Quote

782.0
-5.0 -0.64%
30 Jul 2014