TOKYO, Japan, January 30, 2012 — Renesas Electronics Corporation (Renesas, TSE: 6723), a premier supplier of advanced semiconductor solutions, today announced that Renesas and Mitsubishi Electric Corporation (Mitsubishi Electric; TSE: 6503) have signed an agreement on January 30, 2012 in which: (1) Renesas will obtain a portion of Mitsubishi Electric's land in the Kitaitami operation (Itami, Hyogo); and (2) Mitsubishi Electric will acquire Renesas' manufacturing building (the “U building”) located within the premises of Mitsubishi Electric's Kitaitami operation.
Renesas and Mitsubishi Electric will now enter negotiations to finalize the details and aim to complete the transactions by March 31, 2012.
The mutual purchases will resolve a complicated mix of the two companies' properties, a condition that has existed since April 2003.
Overview of the land to be acquired by Renesas
| Address | 4-1, Mizuhara, Itami, Hyogo |
|---|---|
| Land Area | Approximately 32,013 square meters (Eastern part of the Mitsubishi Electric's Kitaitami operation) |
| Effective date | March 31, 2012 (scheduled) |
Overview of the U building to be acquired by Mitsubishi Electric
| Completion Date | September 1992 |
|---|---|
| Structure | Steel (Partially steel-reinforced concrete) |
| Footprint | 4,047 square meters |
| Floor Area | 21,161 square meters |
| Effective date | March 31, 2012 (scheduled) |
Refer to the separate sheet for product specifications
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723) delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live. A global leader in microcontrollers, analog, power and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, infrastructure, and IoT applications that help shape a limitless future. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, and YouTube.
The content in the press release, including, but not limited to, product prices and specifications, is based on the information as of the date indicated on the document, but may be subject to change without prior notice.