Renesas Electronics Announces the Successful Implementation of Measures to Ensure a Robust and Profitable Structure

Financial Agreements Enable Acceleration of Business Reforms to Achieve Goals for Profitability

TOKYO, Japan, September 28, 2012 — Renesas Electronics Corporation (TSE: 6723, hereinafter “Renesas”), a premier supplier of advanced semiconductor solutions, today announced the execution of a guarantee deposits agreement with NEC Corporation (hereinafter “NEC”), of loan agreements with Hitachi, Ltd. (hereinafter “Hitachi”) and Mitsubishi Electric Corporation (hereinafter “Mitsubishi Electric”), and a syndicate loan agreement with Renesas' main financing banks to implement financing totaling 97 billion yen. These agreements now secure the funds for the structural reform of production sites and the early retirement incentive program as announced by Renesas on July 3, 2012. This financing will become effective October 1, 2012.

With these financial arrangements in place, Renesas will accelerate business, financial and product offering reforms to reach the goals of profitability, a reduced fixed-cost base and an ability to respond to market changes flexibly, in line with the July 3, 2012 announcement. Renesas intends to be a company that consistently achieves an operating profit ratio of more than 10 percent.