Renesas Electronics Corporation (TSE: 6723) has completed the transfer of its timing business to SiTime Corporation (NASDAQ: SITM), effective July 1, the Japanese chipmaker said, finalizing a transaction announced earlier this year.
The business transfer marks the completion of a deal first disclosed on Feb. 5. The timing business, which develops clocking and synchronization technologies for electronic systems, is now part of California-based SiTime.
Renesas said it will continue to pursue its strategic partnership with SiTime following the transaction. The company did not disclose additional details of the collaboration.
The chipmaker expects to record a preliminary gain of approximately 443.3 billion yen in its consolidated financial statements for the nine months ending Sept. 30, 2026. The estimate is based on currently available information and an exchange rate of 162 yen to the U.S. dollar at the time of the transaction.
Renesas said the gain remains subject to review by its independent auditor and could change before being finalized. Any revisions will be disclosed once the amount is confirmed.
The company added that the transaction will not affect its financial outlook for the six months ending June 30, 2026, which was announced on April 24. Renesas reports revenue, gross margin and operating margin on a non-GAAP basis and does not provide earnings guidance for profit attributable to owners of the parent.
The sale is part of Renesas’ ongoing portfolio strategy as semiconductor companies increasingly streamline operations and focus investment on core technologies. The completion of the transfer also expands SiTime’s position in the precision timing semiconductor market while extending the companies’ strategic relationship.
