Renesas Technology, Sharp Corporation, and Powerchip Semiconductor today announced an agreement to establish a joint venture on April 1, 2008, specializing in drivers and controllers for small- and mid-size LCDs. Consolidating the business operations of Renesas Technology and Sharp in this field, the new company (Renesas SP Drivers Inc) will engage in the design, development, sales, and marketing of LCD drivers and controllers. Business operations related to these products will be transferred to the new company starting April 2008 for Renesas Technology, and by the end of fiscal 2008 for Sharp.

The new company is a fabless semiconductor manufacturer focusing on design, development, sales, and marketing. Powerchip Semiconductor, one of the investors in the new company, will handle most of the actual production, using its process technology and production cost competitiveness.