Tokyo, Feb. 5 (Jiji Press)–Renesas Electronics Corp. said Thursday that it will sell its timing device business for 3 billion dollars to focus on its chipmaking operations. The Japanese company plans to sell the timing device business to SiTime Corp., a U.S. electromechanical device maker, by the end of the year. Renesas is considering procuring timing devices, which produce signals that enable electronic circuits to operate properly, from SiTime. The chipmaker said it swung into a consolidated net loss of 51.7 billion yen in 2025, its first red ink in six years, from a profit of 219 billion yen in 2024. The company took a charge of 236.6 billion yen related to the bankruptcy of U.S. chipmaker Wolfspeed Corp., a partner firm. Renesas was also hurt by sluggish sales of chips for electric vehicles due to slowing EV demand, particularly in China. END [Copyright The Jiji Press, Ltd.]
Renesas to Sell Timing Device Biz
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