Hitachi Semiconductor and Mitsubishi Electric were the founding partners in Renesas in 2002 with NEC Electronics, the semiconductor arm of NEC, joining Renesas in 2010.
Since then, Renesas has been a success with its share price rising 13x and 2022 revenue per employee of $480,000,
Renesas transformed itself with the acquisitions of Dialog, IDT and Intersil.
Hitachi expects $896 million for its share and NEC expects $1.2 billion.