NEC Electronics Corp. and Renesas Technology Corp. are poised to merge by April after their parent companies agreed to inject ¥200 billion into what may become the world's third-largest chip maker.
Hitachi Ltd. will own 31 percent of the new company, called Renesas Electronics Corp., while Mitsubishi Electric Corp. will hold 25 percent and NEC Corp. will own a 33 percent stake, the companies said in a statement Wednesday.
Renesas President Yasushi Akao will become the chief executive officer of the new chip maker.
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