Renesas Electronics Corp Eyes Selling Subsidiary To Panasonic Corp-Fujitsu Ltd Chip Unit-DJ

Tuesday, 5 Mar 2013 04:17am EST 

Dow Jones reported that Renesas Electronics Corp is considering selling a subsidiary to a new company that Fujitsu Ltd and Panasonic Corp will set up by integrating their loss-making system LSI chip operations, Kyodo News reported. Fujitsu and Panasonic announced the system LSI merger plan in February, but Renesas, which initially took part in the negotiations, failed to reach terms with them. Fujitsu and Panasonic, however, still want to acquire the chipmaker's technology to boost their international competitiveness. The three are mulling incorporating Renesas Mobile Corp, a Renesas unit that develops semiconductors for smartphones, into the new company that Fujitsu and Panasonic are aiming to launch around the middle of fiscal 2013 starting April. 

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