Major semiconductor companies have scrapped a plan to form an alliance to invest in advanced manufacturing facilities, the president of chip maker Renesas Technology Corp. said Tuesday.

“We had discussed it, but now we’ve changed the plan,” Satoru Ito said while commenting on his firm’s earnings results. He said major Japanese companies have begun to invest in creating cutting-edge semiconductors on their own because of an upturn in the market.

Under the original plan, some firms intended to jointly invest in Trecenti Technologies Inc., a chip-making subsidiary of Renesas Technology, to install advanced manufacturing facilities there.

Renesas, a joint venture of Hitachi Ltd. and Mitsubishi Electric Corp., is one of the largest semiconductor companies in the world. Ito said the company will independently manufacture integrated semiconductor systems and other devices.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.