Japan's Renesas CEO says no plans to build chip production facilities in U.S

Japanese semiconductor maker Renesas Electronics Corporation Chief Executive Officer Hidetoshi Shibata poses with a printed circuit board at the San Jose office, in San Jose, California, U.S., July 20, 2022. REUTERS/Jane Lanhee Lee

SAN JOSE, Calif (Reuters) - Japanese semiconductor maker Renesas Electronics Corp. has no plans to build chip factories in the United States and will continue to expand production in Japan instead, chief executive officer Hidetoshi Shibata said on Wednesday.

"When it comes to front-end production, I don't necessarily believe there are good supplies of ingredients in geographies like Europe or the U.S.," said Shibata. He was speaking to Reuters in Silicon Valley after meeting with employees of U.S. chip companies that Renesas had acquired in recent years.