Renesas Electronics to Withdraw from the Large-Sized Display Driver IC Business

(PresseBox) (Tokyo, Japan, ) Renesas Electronics Corporation ("Renesas", TSE: 6723), a premier supplier of advanced semiconductor solutions, today announced that it will withdraw from the large-sized display driver IC business.

1. Reasons to the withdrawal
Renesas has been working to improve the performance of the large-sized display driver IC business by implementing various measures including reducing manufacturing cost through process miniaturization and promoting development efficiency. However, the slowdown of the flat panel display market for mostly TVs and falls in prices have placed Renesas in a very difficult situation to secure profitability. With no short term recovery in sight, Renesas concluded it is difficult to stay in the large-sized display driver IC business and decided to withdraw from the business as part of its structural reform measures.

2. Outline of the large-sized display driver IC business
Renesas will withdraw from the development of driver ICs for large-sized displays effective March 31, 2012.

For those large-sized display driver ICs which have already started mass production, the company will discontinue its supply in consultation with existing customers using these drivers effective March 31, 2013.

Renesas SP Drivers Inc., a consolidated subsidiary of Renesas Electronics, will continue to supply small- and mid-sized display diver ICs as in the past.

3. Impact on Renesas' financial results
The withdrawal does not have a significant impact to Renesas' consolidated financial results for the year ending March 31, 2012. Renesas will assess the impact from the withdrawal to its financial results for the year ending March 31, 2013 and intends to add details when confirmed information is available.

Renesas Electronics Europe

Renesas Electronics Corporation (TSE: 6723), the world's number one supplier of microcontrollers, is a premier supplier of advanced semiconductor solutions including microcontrollers, SoC solutions and a broad range of analog and power devices. Business operations began as Renesas Electronics in April 2010 through the integration of NEC Electronics Corporation (TSE:6723) and Renesas Technology Corp., with operations spanning research, development, design and manufacturing for a wide range of applications. Headquartered in Japan, Renesas Electronics has subsidiaries in 20 countries worldwide. More information can be found at www.renesas.com.

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