Author: Min Jeong Lee
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…