INCJ sells a majority of its shares in Renesas Electronics.
🟦INCJ Completes Sale of Renesas Shares
INCJ (formerly Innovation Network Corporation of Japan) has announced that it has sold nearly all of its shares in Renesas Electronics. The INCJ has been gradually selling its Renesas Electronics shares, and its ownership has decreased to 6.65%. Following this recent transaction, the INCJ’s stake has been reduced to almost zero.
🟦 Achievement of investment objectives in Renesas
INCJ acquired a significant share in Renesas Electronics in 2013 amid a financial crisis. Following the improvement in Renesas’ business performance and an increase in its stock price, INCJ determined that the initial investment objectives had been met. In that year, INCJ purchased a 69% stake in Renesas for 138.3 billion yen.
🟦Summary
INCJ sold almost all of its holdings in Renesas Electronics on the grounds that it had stabilized its management.
Renesas’ stock price has risen approximately fivefold since its investment in September 2013. A five-fold increase in about 10 years is about 18% per annum, which is higher than the growth rate of the semiconductor industry as a whole, which is about 10%.
