Latest news with #HidetoshiShibata
The Mainichi
11 hours ago
- Automotive
- The Mainichi
Japan chipmaker Renesas postpones achieving 2030 sales goal by 5 yrs
TOKYO (Kyodo) -- Japanese chipmaker Renesas Electronics Corp. said Thursday it will push back its target of achieving sales of over $20 billion in 2030 by five years in the face of stiff competition from Chinese rivals. The goal is to more than double its sales of 1.35 trillion yen ($9.3 billion) in 2024. Also, Renesas, a major maker of automobile chips, now aims to boost its market capitalization sixfold by 2035, instead of the previously targeted 2030, Renesas CEO Hidetoshi Shibata said at a meeting with investors. "The environment surrounding us has significantly changed. It is not easy now to face off squarely against Chinese firms and beat them," Shibata said. Renesas sees Chinese companies improving their manufacturing skills and technology as they have been facing U.S. export restrictions amid the U.S.-China chip war. On Monday, the company said it expects a loss of about 250 billion yen in the first six months of this year, related to its restructuring support for a U.S. business partner, Wolfspeed Inc. Wolfspeed has suspended the development of silicon carbide wafers for next-generation power semiconductors, which will be used in electric vehicles, among others, even as the U.S. company agreed to supply the wafers to Renesas.
Japan Today
2 days ago
- Automotive
- Japan Today
Japan chipmaker Renesas postpones achieving 2030 sales goal by 5 years
Japanese chipmaker Renesas Electronics Corp said Thursday it will push back its target of achieving sales of over $20 billion in 2030 by five years in the face of stiff competition from Chinese rivals. The goal is to more than double its sales of 1.35 trillion yen in 2024. Also, Renesas, a major maker of automobile chips, now aims to boost its market capitalization sixfold by 2035, instead of the previously targeted 2030, Renesas CEO Hidetoshi Shibata said at a meeting with investors. "The environment surrounding us has significantly changed. It is not easy now to face off squarely against Chinese firms and beat them," Shibata said. Renesas sees Chinese companies improving their manufacturing skills and technology as they have been facing U.S. export restrictions amid the U.S.-China chip war. On Monday, the company said it expects a loss of about 250 billion yen in the first six months of this year, related to its restructuring support for a U.S. business partner, Wolfspeed Inc. Wolfspeed has suspended the development of silicon carbide wafers for next-generation power semiconductors, which will be used in electric vehicles, among others, even as the U.S. company agreed to supply the wafers to Renesas. © KYODO
Time of India
10-06-2025
- Automotive
- Time of India
Chip company Renesas says Wolfspeed situation won't hit India OSAT
Reports of a likely bankruptcy filing by the US-based silicon carbide (SiC) wafer maker have been sending shockwaves through the global semiconductor industry with experts suggesting that it could impact Murugappa group-owned CG Power's upcoming outsourced semiconductor assembly and test facility (OSAT) in Sanand. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Japanese chipmaker Renesas has said that the situation involving Wolfspeed will have "no impact" on its OSAT project in of a likely bankruptcy filing by the US-based silicon carbide (SiC) wafer maker have been sending shockwaves through the global semiconductor industry with experts suggesting that it could impact Murugappa group-owned CG Power 's upcoming outsourced semiconductor assembly and test facility (OSAT) in Sanand."We would like to clarify that the situation involving Wolfspeed will have no impact on the OSAT project, including its production, operations, or the relationship between Renesas and CG Power," a Renesas spokesperson said in a statement to in a recent filing with the US Securities and Exchange Commission (SEC), said 'substantial doubt exists' about its ability to continue as a going Renesas Electronics, CG Power's partner for the project, has a long-term $2-billion SiC wafer supply agreement with Wolfspeed, which is now reportedly on the brink of default. Since Renesas has already made advance payments under the contract, experts had told ET that it risks a financial setback besides supply disruptions. They said CG Power's OSAT facility, which was betting on demand from Renesas, may face headwinds as a Renesas in its statement said that while it does not comment on the financial situation of Wolfspeed, it said it will not hamper its ability to continue supporting the JV project. Additionally, it said that it does not plan to produce SiC devices under the OSAT joint venture in India."India remains a key focus market for us, and Renesas is committed to supporting the 'Make in India' initiative and continuing our full support of the OSAT joint venture," the spokesperson said. "Therefore, we do not anticipate any global supply chain disruptions arising from our relationship with Wolfspeed."CG Power holds a majority 92.3% stake in the joint venture OSAT, with Renesas holding 6.8%.In an interview with ET in May, Renesas global CEO Hidetoshi Shibata said he expects the Sanand facility to roll out its first chip from a pilot production line by Rs 7,600-crore plant is slated to start mass production in 2027, he said, adding that Renesas is also in talks with other potential Indian partners to expand its presence in the country at various levels.
