Overview

• Japanese state-backed fund INCJ sold the majority of its stake in Renesas Electronics, a semiconductor manufacturer, offloading shares worth ¥279 billion ($1.84 billion) primarily to overseas institutional investors.
• With a sale price of ¥2,143 per share, this represented an 8.01% discount on Renesas' closing share price on the day before the sale.
• Out of its earlier holding of 6.65% of Renesas' shares, INCJ has only retained 75 shares compared to the 130 million it held previously.
• This move is a part of INCJ's larger plan to exit from all its investments by March 2025, a strategy it has been steadily implementing over recent years.
• INCJ first invested in Renesas in 2013, acquiring a 69% stake in the chipmaker which was then experiencing significant losses due to intense competition from its global rivals, including Samsung Electronics.