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Chipmaker Renesas hits profit record, with CEO upbeat on outlook

Japanese supplier buys Israel's Celeno Communications for $315m

Tokyo-based chipmaker Renesas Electronics projects a 37% increase in revenue for 2021.   © Reuters

TOKYO -- Japan's Renesas Electronics reports a 96% jump in group net profit on the year for the January-September period, propelled by a strong performance from its automotive chips.

Earnings reached 75.4 billion yen ($662 million), the chipmaker said Thursday. This marks the highest profit ever for the nine-month period, although past results were reported under different accounting standards.

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