Once struggling under government control, Renesas Electronics has transformed into a $35 billion powerhouse, with aspirations to reach a $100 billion market value by 2030. Spearheading this growth is CEO Hidetoshi Shibata, a former Merrill Lynch banker, who has overseen a series of overseas acquisitions. With plans to expand in India and capitalize on AI-enabling microcontrollers, Shibata aims to double the company’s annual revenue to $20 billion.
Founded through the consolidation of chip arms from NEC, Hitachi, and Mitsubishi Electric, Renesas was the world’s third-largest chipmaker in 2009, falling behind Intel and Samsung Electronics. However, setbacks such as a major factory damage during the 2011 Japan earthquake led to a decline in fortunes. But with a renewed focus on AI and growth in the automotive sector, Renesas is positioning itself for success once again.