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Denso Increases Stake in Renesas
Denso Corp. is buying an additional 4.5% stake in Japanese chipmaker Renesas Electronics Corp., increasing its share to 5%.
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Denso Corp. is buying an additional 4.5% stake in Japanese chipmaker Renesas Electronics Corp., increasing its share to 5%.
Denso is acquiring the new shares from Innovation Network of Japan (INCJ). The deal reduces the state-backed investment fund’s ownership in Renesas from 50.1% to 45.6%.
Terms of the deal weren’t disclosed. Based on Renesas' stock price, the purchase is valued at about 85 billion yen ($797 million).
Denso says the investment will help it accelerate the development of automated driving, electrification, connected vehicle and other advanced electronic technologies. The company notes that collaborating with semiconductor manufacturers is essential to develop the necessary control systems for next-generation cars.
Renesas has shifted its focus to self-driving vehicle systems in recent years. The company formed the R-Car Consortium last April. In October it announced that it will supply semiconductors and microcontrollers to Toyota and Denso for future Toyota vehicles with automated driving capabilities.
Last week Denso formed a joint venture with Aisian Seiki and Toyota to develop software for self-driving cars. Both suppliers are affiliated with Toyota, which holds a 90% stake in the 300 billion yen ($2.8 billion) venture.RELATED CONTENT
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