Renesas plans to outsource chip R&D abroad

TOKYO: Renesas Electronics Corp is doing something that only a decade ago would be unthinkable for a Japanese semiconductor maker – outsource research overseas.

Outsourcing more R&D reduces the cost of developing components for new applications in autonomous cars and the Internet of things, chief executive officer Bunsei Kure said yesterday. It’s also a way to hedge against currency swings, Kure told reporters days after Renesas shareholders approved his appointment as CEO and president.