Renesas Electronics America Commences Operations as a Wholly Owned Subsidiary of the Newly Established Renesas Electronics Corporation  

SANTA CLARA, Calif., April 1, 2010—Today, Renesas Electronics America Inc. announced it has commenced business operations as a wholly owned subsidiary of the newly established Renesas Electronics Corporation (as of April 1, 2010), the world’s number one supplier of microcontrollers1. Renesas Electronics America Inc. was formed through the integration of NEC Electronics America, Inc. and Renesas Technology America, Inc. and is a premiere supplier of advanced semiconductor solutions including microcontrollers, system-on-chip (SoC) solutions, and a broad range of analog and power devices as well as LCD modules for the Americas market.

A primary aim of Renesas Electronics America is to ensure that customers have easy, rapid access to the complete system solutions they need—semiconductors, hardware/software tools, application assistance, manufacturing—so they can quickly address market opportunities. Backed by a large team of technology experts conveniently located; an extensive network of sales representatives and distributors; and local manufacturing in Roseville, California, the company delivers high levels of design service and support to its customers. In addition, Renesas Electronics America is the sales and marketing channel in the Americas for industrial-type active-matrix LCD modules from NEC LCD Technologies, Ltd.

Executive Management Team
Heading up the newly established Renesas Electronics America is a strong leadership team made up of talented executives from the integrated companies:

About Renesas Electronics America Inc.
Renesas Electronics America Inc., headquartered in Santa Clara, California, is a wholly owned subsidiary of Renesas Electronics Corporation (TSE: 6723), the world’s number one supplier of microcontrollers and a premiere supplier of advanced semiconductor solutions including microcontrollers, SoC solutions, and a broad range of analog and power devices. Renesas Electronics America offers local manufacturing in Roseville, California, and the global manufacturing capabilities of its parent company. In the Americas, Renesas Electronics America markets and sells industrial-type active-matrix LCD modules from NEC LCD Technologies, Ltd., a global leader in innovative display technologies. More information about Renesas Electronics America can be found at http://www.am.renesas.com.

Renesas Electronics Corporation Commences Operations 

TOKYO, Japan, April 1, 2010--Completing a merger transaction between the former NEC Electronics Corporation and Renesas Technology Corp., the newly established Renesas Electronics Corporation (TSE: 6723) today announced it has commenced business operations.

Upon approvals from the Renesas Electronics Board of Directors held earlier today, Junshi Yamaguchi became the Chairman and Yasushi Akao became the President of the Board of Directors of Renesas Electronics. Renesas Electronics also announced that the company issued shares of its common stock to NEC Corporation (NEC; TSE: 6701), Hitachi, Ltd. (Hitachi; TSE: 6501), and Mitsubishi Electric Corporation (Mitsubishi Electric; TSE: 6503) in exchange for an aggregate of approximately 134.6 billion yen.

Renesas Electronics’ new corporate philosophy and corporate vision are as follows.

[Corporate Philosophy]
Harnessing our collective expertise in new technologies, Renesas Electronics Corporation
contributes to a world where people and the planet prosper in harmony by realizing
our vision and building our future.

[Corporate Vision]
We will be first to respond to customer needs worldwide with our creative power
and technology innovations to become a strong, growing semiconductor manufacturer and a trustworthy partner.

Supporting the corporate philosophy and corporate vision, Renesas Electronics will focus on three areas of technology expertise, including microcontrollers, SoC solutions, and analog & power devices. The company aims to generate synergies to establish a strong new semiconductor company that is capable of consistently achieving high earnings in order to withstand changing semiconductor market conditions. In addition, Renesas Electronics will leverage its resources generated through streamlined operations and focus on expanding businesses in the global market.

Outline of Renesas Electronics

Company Name: Renesas Electronics Corporation
Registered Head Office: 1753 Shimonumabe, Nakahara-ku, Kawasaki, Kanagawa 211-8668, Japan
Headquarters: Nippon Bldg., 2-6-2, Ote-machi, Chiyoda-ku, Tokyo 100-004, Japan
Capital Stock: 153,255,000,915 yen (including the third-party allotment completed today)

[Major stockholders and ownership ratio of Renesas Electronics Corporation]

NEC Corporation 33.97%
Hitachi, Ltd. 30.62%
Mitsubishi Electric Corporation 25.05%
Japan Trustee Services Bank, Ltd. (Note) 1.49%

(Trust Account from The Sumitomo Trust and Banking Co., Ltd. for retirement benefit Trust Account of NEC Corporation)

Major Operations: Research, development, design, manufacture, sale, and servicing of semiconductor products
Employees: Approximately 47,000 (As of April 1, 2010, Consolidated)
(Note) 1.54% of shares which are owned by Japan Trustee Services Bank, Ltd. (Re-trust of The Sumitomo Trust and Banking Co., Ltd./NEC Corporation pension and severance payments Trust Account) were shares that were contributed by NEC as severance indemnities trusts. The voting rights of such shares will be exercised at the instruction of NEC.

About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723), the world’s number one supplier of microcontrollers, is a premiere 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.

CEL Congratulates NEC Electronics on Completion of Merger with Renesas Technology Corporation

New entity continues CEL partnership; minimal impact to CEL from merger

Santa Clara, Calif. — April 1, 2010 — California Eastern Laboratories (CEL) congratulates our long-standing partner, NEC Electronics, on the completion of its merger with Renesas Technology Corporation.  The new entity, Renesas Electronics Corporation, continues its 50 year partnership with CEL.

Product Supply Uninterrupted
The supply of CEL products that come from NEC Electronics, including RF switches, power amplifiers, low noise amplifiers, optocouplers, solid state relays, lasers, and detectors, will continue without interruption.  

“We are delighted that the uncertainty caused by the pending merger is behind us.  Now, without any distractions, CEL and the new Renesas can confidently bring the best RF and optical semiconductors to market,” said Paul Minton, President and CEO for California Eastern Laboratories.  

Merger Impact Minimal
“Mergers happen, but we are still us. We are still CEL, dedicated to the same great products and same great service our customers have come to expect. And we are looking forward to another 50 plus years of working with the new Renesas and serving our key customers and partners,” continued Mr. Minton.

For more information on the merger, please visit:
http://www.cel.com/merger
Please contact David Cohen at david.cohen@cel.com for more information or to arrange a briefing.

About CEL
California Eastern Laboratories (www.cel.com) the exclusive sales and marketing partner for products made by the Compound Semiconductor Devices Business Division (CSDBD) of Renesas Electronics Corporation. These products include wireless RFICs and discrete devices, lasers and detectors for fiber optics, optocouplers, and solid state relays. Renesas Electronics is a leader in manufacturing quality and reliability.