TOKYO, Japan― Renesas Electronics Corporation (“Renesas”, TSE: 6723), a premier supplier of advanced semiconductor solutions, today announced a change in its largest major shareholder, which became effective as of September 21, 2018. The details are as follows.
1. Reason for the change
The Innovation Network Corporation of Japan, which is Renesas’ largest major shareholder, has resolved at the meeting of Board of Directors held on August 30, 2018 and at the extraordinary shareholders’ meeting held on September 20, 2018 that, as of September 21, 2018, it: (1) under the Article 97, §1 of “Japan's Act on Strengthening Industrial Competitiveness Law” (Note) established INCJ, Ltd. through corporate separation and inherited capital supply and other support for special business activities to INCJ, Ltd.; and on the same date, (2) inherited all of the investment securities, including Renesas shares, currently owned by Innovation Network Corporation of Japan to INCJ, Ltd.
Following these changes, the newly established INCJ, Ltd. became Renesas’ largest major shareholder and Innovation Network Corporation of Japan ceased to be Renesas’ largest major shareholder.
(Note) Enacted as Law 98 of 2013, the law that predates the modification law (Law 26 of 2018) which amends parts of the Act on Strengthening Industrial Competitiveness.
2. Overview of shareholders that made changes
(1) Overview of the new largest major shareholder
| (1) | Name | INCJ, Ltd. |
|---|---|---|
| (2) | Address | 4-1-1 Marunouchi, Chiyoda City, Tokyo |
| (3) | Name and title of representative | Toshiyuki Shiga, Representative Director, Chairman and CEO Mikihide Katsumata, Representative Director, President and COO |
| (4) | Main business | INCJ, Ltd. will carry out specific business activity support and other work as stipulated in the current Act on Strengthening Industrial Competitiveness as of September 21, 2018. |
| (5) | Capital | 500 million yen |
(2) Overview of the previous largest major shareholder
| (1) | Name | Innovation Network Corporation of Japan |
|---|---|---|
| (2) | Address | 4-1-1 Marunouchi, Chiyoda City, Tokyo |
| (3) | Name and title of representative | Toshiyuki Shiga, Representative Director, Chairman and CEO Mikihide Katsumata, Representative Director, President and COO |
| (4) | Main business | Specific business activity support and other work as stipulated in the current Act on Strengthening Industrial Competitiveness. |
| (5) | Capital | 300,010 million yen (as of March 31, 2017) |
3. Number of voting rights (number of shares) held by shareholders before and after the change
(1) New largest major shareholder
INCJ, Ltd.
| Number of voting rights (Number of shares held) |
Ratio of number of voting rights held by all shareholders | Shareholder ranking | |
|---|---|---|---|
| Prior to the change | - | - | - |
| After the change | 5,568,421 (556,842,175 shares) |
33.4% | 1 |
(2) Previous largest major shareholder
Innovation Network Corporation of Japan
| Number of voting rights (Number of shares held) |
Ratio of number of voting rights held by all shareholders | Shareholder ranking | |
|---|---|---|---|
| Prior to the change | 5,568,421 (556,842,175 shares) |
33.4% | 1 |
| After the change | - | - | - |
4. Date of change
September 21, 2018
5. Financial outlook
No major impact is anticipated on Renesas’ consolidated financial results from the changes in largest major shareholder.
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.