UPDATE: Notice Regarding Completion of Business Transfer of Consolidated Subsidiary

TOKYO--(BUSINESS WIRE)--Renesas Electronics Corporation (“Renesas”), a premier supplier of advanced semiconductor solutions, today announced that the transfer of its timing business, as previously disclosed in the “Notice Regarding Business Transfer of Consolidated Subsidiary” dated February 5, 2026, has been completed as of July 1, 2026.

1. Overview

This transaction involves the transfer of Renesas’ timing business to SiTime Corporation (“SiTime”), headquartered in California, the United States.

Renesas will continue to explore and develop its partnership with SiTime, as previously outlined in the disclosure dated February 5, 2026. For further details regarding the transfer, please refer to the aforementioned disclosure.

2. Effective Date of the Transfer

July 1, 2026

3. Future Outlook

As a result of the transfer, Renesas expects to record a gain on the transfer of approximately 443.3 billion yen (converted at an exchange rate of 162 yen to the dollar at the time of the transaction) in its consolidated financial statements for the nine months ending September 30, 2026. This amount is a preliminary estimate based on the currently available information and may be subject to change due to various factors. The timing and final amount of the gain to be recorded will be determined in consultation with Renesas’ independent auditor, and Renesas will disclose any updates once they are finalized.

In addition, Renesas discloses revenue, gross margin, and operating margin on a "Non-GAAP" basis and does not provide a forecast for profit attributable to owners of parent. Accordingly, there is no change to the forecast for the six months ending June 30, 2026, announced on April 24, 2026.

About Renesas Electronics Corporation

Renesas Electronics Corporation (TSE: 6723) empowers a safer, smarter and more sustainable future where technology helps make our lives easier. A leading global provider of microcontrollers, Renesas combines our expertise in embedded processing, analog, power and connectivity to deliver complete semiconductor solutions. These Winning Combinations accelerate time to market for automotive, industrial, infrastructure and IoT applications, enabling billions of connected, intelligent devices that enhance the way people work and live. Learn more at renesas.com. Follow us on LinkedIn, Facebook, X, YouTube, and Instagram.

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