Renesas Electronics <6723>, the "last bastion" of domestic logic semiconductors, was born through M & A. Moreover, its background is dark. In 1989, when Heisei started, 6 out of the top 10 companies in terms of global semiconductor sales were Japanese companies, but in 2000 there were 3 companies, and in 2020 there was 1 company in memory semiconductor Kioxia (formerly Toshiba Memory). Just in 10th place. After more than 30 years, Japanese companies have withdrawn one after another. It was Renesas that undertook the "withdrawal war".
Integrated the semiconductor businesses of Hitachi and Mitsubishi Electric, which became the "losers"
The company was born as "Renesas Technology" in April 2003 by integrating the business of system LSIs, microcomputers, and memories other than DRAM, which Hitachi <6501> separated from the main unit, and the microcomputer division, which was also cut out by Mitsubishi Electric <6503>. I will give you. At the beginning of the integration, sales were about 700 billion yen, making it the top three manufacturers in Japan and the world's top three manufacturers after Intel in the US and Samsung Electronics in South Korea.
The "SuperH (SH)" series of microcomputers that adopted the 32-bit RISC (minimum instruction set computer) architecture for embedded devices, which was first developed in the Hitachi era, became a big hit. In 1994, it was adopted in the SEGA (currently SEGA SAMMY HOLDINGS) <6460> home video game machine "SEGA Saturn", mobile phones, and car navigation systems (car navigation systems), boasting high competitiveness with high functionality and low power consumption. rice field.
However, other than car navigation systems, the market share is lost to microcomputers that adopt the ARM architecture developed by the emerging British ARM. In 2001, the share of the SH series in embedded devices dropped to 6.8%, falling behind ARM, which had a share of nearly 70%.
Furthermore, semiconductor prices have fallen due to intensifying competition in the global market. Renesas' sales in 2006 were 952.6 billion yen, approaching 1 trillion yen, but operating income was only 23.5 billion yen. The operating profit margin was 2.47%, and it fell into a state of no profit due to low profit and high sales.
Even so, I managed to stay in the black because semiconductors for automobiles and mobile phones performed well. However, due to the Lehman shock in 2008, orders from the automobile and mobile phone industry, which had been the "line of trust", stopped, and in fiscal 2008, the operating deficit fell to 96,573 million yen.
＞ Next page With the Lehman shock, "integration of the weak" with NEC Ele
