Automotive chips · World No.2 in auto MCUs
Renesas Electronics
World No.2 in automotive microcontrollers (MCUs) and No.3 in MCUs overall, with ~¥1.47T ($10B) revenue in 2024. It supplies the dozens-to-hundreds of MCUs per car to automakers and industrial OEMs like Toyota, with its R-Car SoC selected for the new RAV4 ADAS control unit. It outsources leading-edge logic to TSMC and is expanding into power, investing in SiC via Wolfspeed.
6723.T Updated Jul 12, 2026 5 AI consumers· 3 recurring
Per the valuechain.wiki graph, Renesas Electronics is directly linked to 4 companies (3 supply, 1 revenue relationships) and reaches 37 companies within two hops; the links are backed by 9 dated sources, 4 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · Automotive MCU and SoC
- Segments · Automotive MCU and SoC
Revenue from
- industrial · IoT OEM (undisclosed) Medium confidence
Supplies MCUs and SoCs to industrial and IoT OEMs — an industrial revenue axis complementing automotive.Confirms EN Renesas Electronics Published Feb 5, 2026: Renesas' Consolidated Financial Results for the Year Ended December 31, 2025 - automotive & industrial OEM (undisclosed) Medium confidence
Supplies automotive MCUs and SoCs to automotive/industrial OEMs like Toyota — demand that grows as electrification/ADAS raise chip content per vehicle. - Toyota Motor Corporation Medium confidence
Renesas supplies automotive semiconductors to Toyota, with its R-Car V4H selected for the new RAV4 ADAS control unit. Automotive is Renesas's largest end market.Confirms EN Renesas Newsroom Published Feb 24, 2026: Renesas R-Car V4H ADAS SoC Selected for Toyota RAV4 Model
Pays to
- TSMC Medium confidence· Revenue ~$10B · 2024 · annual revenue
Outsources leading-edge automotive SoC (R-Car etc.) foundry to TSMC — a fab-lite structure securing leading-edge competitiveness. - Synopsys Medium confidence
Pays for synopsys EDA tools and IP licenses. - Cadence Design Systems Medium confidence
Pays for cadence EDA tools and IP licenses. - front-end equipment (undisclosed) Low confidence
Parts, materials and R&D (undisclosed).
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Mazda Motor | lead2 | +18.8 | +22.8 | +81.1 | -39 | +17.3 | +1.8 |
| Toyota Motor Corporation | lead1 | +58.1 | -13.4 | +63 | +1.8 | +21.8 | -10.8 |
| Renesas Electronics | node | +8.2 | +2.4 | +88 | -13.6 | +23.8 | +28.2 |
| TSMC | benef1 | +12.1 | -36.7 | +42.3 | +92.6 | +55.9 | +41.9 |
| Global Unichip | benef2 | +21.4 | +67.6 | +99.4 | -13.7 | +101.4 | +122.8 |
| SUMCO Corporation | benef2 | -4.3 | -3.9 | +21.3 | -48.1 | +41.7 | +100.6 |
| GlobalWafers | benef2 | +26.9 | -29.9 | +14.3 | -39 | +48.9 | +98.1 |
| Teradyne | benef2 | +36.8 | -46.3 | +24.8 | +16.5 | +54.4 | +84.6 |
| Lam Research | benef2 | +53.7 | -40.7 | +88.6 | -6.8 | +139.2 | +80.1 |
| Applied Materials | benef2 | +83.6 | -37.5 | +68 | +1.1 | +59.6 | +77.6 |
| Resonac | benef2 | -2.6 | -4 | +37.5 | +30.3 | +137.9 | +73.5 |
| Onto Innovation | benef2 | +112.9 | -32.7 | +124.6 | +9 | -5.3 | +69.8 |
| Entegris | benef2 | +44.6 | -52.5 | +83.5 | -17.1 | -14.6 | +65.1 |
| ASML | benef2 | +64.1 | -30.5 | +39.9 | -7.7 | +55.8 | +61.1 |
| KLA | benef2 | +68 | -11.2 | +56 | +9.4 | +94.5 | +53.3 |
| Qnity Electronics | benef2 | · | · | · | · | · | +47.8 |
| SCREEN Holdings | benef2 | +40.7 | -13.2 | +220.1 | -24.1 | +84.9 | +33.7 |
| Tokyo Electron (TEL) | benef2 | +40.4 | -14.5 | +89.8 | -4.4 | +61.6 | +30.3 |
| Advantest | benef2 | +17 | -2.3 | +155.7 | +49.5 | +196 | +29.9 |
| Fujimi Incorporated | benef2 | +64.7 | -1.6 | +40.4 | -24.2 | +28.4 | +23.4 |
| Air Liquide | benef2 | +14.3 | +8.1 | +21.1 | +8.7 | -4.6 | +21.3 |
| BESI | benef2 | +33.7 | -6.1 | +121.8 | -9.3 | +35 | +20.3 |
| EO Technics | benef2 | +7.6 | -28.2 | +130.5 | -16.2 | +163.2 | +17.8 |
| ASM International | benef2 | +44.2 | +2.9 | +68.7 | +10.3 | +25.9 | +16.7 |
| Tokyo Ohka Kogyo (TOK) | benef2 | -2.7 | -3 | +63.8 | +4.3 | +111.5 | +14.1 |
| Shin-Etsu Chemical | benef2 | +6.3 | +3.1 | +57.8 | -15.6 | +7.6 | +13.8 |
| Linde | benef2 | +33.4 | -4.4 | +27.7 | +3.2 | +3.2 | +13.1 |
| HPSP | benef2 | · | · | +216.5 | -30.4 | +54.7 | +9.2 |
| Ebara | benef2 | +58.1 | +2.3 | +76.1 | +41 | +84 | -4.2 |
| Cadence Design Systems | benef2 | +36.6 | -13.8 | +69.6 | +10.3 | +4 | -6.4 |
| Lasertec | benef2 | +78.9 | +2.4 | +57 | -60.6 | +138.9 | -8.5 |
| Photronics | benef2 | +68.9 | -10.7 | +86.4 | -24.9 | +35.8 | -9 |
| Synopsys | benef2 | +42.1 | -13.4 | +61.3 | -5.7 | -3.2 | -16.2 |
| Disco Corporation | benef2 | -6.6 | +27.7 | +218.5 | +11.6 | +49.6 | -17.3 |
| Leeno Industrial | benef2 | +21 | -5.3 | +18.3 | +9.5 | +150.1 | -37.1 |
YTD as of 2026-09-04 · source: Yahoo Finance
Renesas Electronics operates across Nikkei, Automotive chips, World No.2 in auto MCUs. It is +28.2% in 2026. The stock (+28.2%) is ahead of both its demand side (avg -10.8%) and supply side (avg +6.4%). Having run ahead of its chain, it is the first spot to give back if customer numbers fail to follow. Among connected nodes the furthest ahead is TSMC (+41.9%) and the furthest behind is Synopsys (-16.2%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It outsources leading-edge logic to TSMC and is expanding into power, investing in SiC via Wolfspeed.
Analysis generated from returns as of 2026-09-04Analyst ratings
Consensus: Buy 3 · Hold 0 · Sell 0 · Avg. target ¥5,833 · Price ¥3,302 (09-04) · Upside +77%
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| Macquarie | Outperform | ¥6,200 | Jul 2, 2026 | Report ↗ |
| Nomura Securities | Buy | ¥5,300 | Jun 26, 2026 | Report ↗ |
| Morgan Stanley | Overweight | ¥6,000 | Jun 23, 2026 | Report ↗ |
In June-July 2026 Macquarie (JPY 6,200), Morgan Stanley (JPY 6,000), BofA (JPY 5,700) and Nomura (JPY 5,300) all sharply raised targets, reinforcing the Buy consensus.