Auto components manufacturer Denso Corp. increased its stake in semiconductor-maker Renesas Electronics Corp. to 5% as part of its efforts to boost its in-vehicle systems.
The deal could be worth $800 million based on market prices, according to a Reuters report.
Denso will buy the additional stake from public-private investment fund Innovation Network Corp. of Japan, or INCJ.
As a result, INCJ's stake in Renesas will fall to 45.60% from 50.10%.
INCJ will cease to be a controlling shareholder of Renesas as of March 14 and will be categorized as "other related company" after the transaction.
