TOKYO, Japan, July 9, 2014—Renesas Electronics Corporation, a premier supplier of advanced semiconductor solutions announced an early retirement incentive program for its employees in Japan.
1. Reasons and background to the early retirement plan
As announced in the “Renesas Electronics Announces Reorganization Aimed at Strengthening of Design and Development Systems” news release dated July 9, 2014, Renesas Electronics Group will redefine the design and development units at Renesas Electronics and the design, development and application technology functions at the Group’s three affiliate companies in Japan and conduct necessary structural reorganization (the “reorganization”).
In accordance with the reorganization, Renesas Electronics has decided to implement an early retirement program to offer special incentives and outplacement support, etc. for those employees who are unable to transfer to other sites or comply with the company’s reorganization policy.
2. Outline of the early retirement plan
Eligibility: Among the employees of Renesas Electronics and affiliate companies who are subject to the reorganization:
– Employees who will be transferred to Takasaki site as a result of the reorganization, etc.
# of applicants: No upper limit or target has been placed
Application period: August 7, 2014 to August 21, 2014 (planned)
Retirement date: September 30, 2014
Benefits: Renesas Electronics will offer special incentives in addition to their retirement payment to employees voluntarily taking early retirement. In addition, outplacement support will be provided through an outside agency for those who request it.
3. Impact on Renesas Electronics’ financial forecasts
Renesas Electronics is currently assessing the impact of the early retirement program on its consolidated financial results. Renesas Electronics intends to disclose the impact on its consolidated earnings from the early retirement program in accordance with the “Rules on
Timely Disclosure of Corporate Information by Issuer of Listed Securities and the Like” enacted by the Tokyo Stock Exchange(TSE)
