KAWASAKI & TOKYO, JAPAN: NEC Electronics Corp. and Renesas Technology Corp. announced candidates of the executive team that will be in place following the business integration on April 1, 2010 (scheduled). All candidates of the new executive team at the new integrated company, to be called Renesas Electronics Corporation, are listed in Exhibit 1.
Susumu Furukawa, who is well-versed in the high-tech field and has extensive experience in global business, has been newly appointed to take the role of the remaining outside director position of Renesas Electronics, effective as of April 1, 2010. Please see Exhibit 2 for a brief biography of the newly appointed outside director, Furukawa.
NEC Electronics and Renesas Technology also announced their plan to consolidate the companies’ domestic sales operations into Renesas Technology Sales Co. Ltd, whose name will change to Renesas Electronics Sales Co. Ltd in accordance with the merger. Please see Exhibit 3 for a list of the newly appointed executives of Renesas Electronics Sales Co. Ltd, scheduled to launch April 1, 2010.
In addition to the above, NEC Electronics and Renesas Technology appointed the representatives and announced the names of the foreign sales subsidiaries of Renesas Electronics Corporation (effective as of April 1, 2010) to coincide with the Merger. Please refer to Exhibit 4 for more details.
Finally, the names of the existing foreign manufacturing subsidiaries of NEC Electronics will be changed following the Merger. Please refer to Exhibit 5 for more details.
Note: The Business Integration will become effective following the adoption of the resolutions at the Extraordinary General Meetings of Shareholders of both NEC Electronics and Renesas Technology and approval by relevant authorities of NEC Electronics and Renesas Technology.