Renesas Electronics Corporation (“Renesas”), a premier supplier of advanced semiconductor solutions, 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.
- 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.
- Effective Date of the Transfer
July 1, 2026
- 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.
