Renesas Electronics' revenue reaches US$9.8 billion in fiscal 2023

According to Renesas' latest financial report, in fiscal 2023, Renesas Electronics' revenue reached 146.94 billion yen, or about 9.8 billion U.S. dollars. Operating profit was 39.08 billion yen, or about 2.6 billion U.S. dollars. Renesas said that in 2024, AI-related demand will be strong, automotive demand will be stable, and the PC market has reached the bottom of the cycle, but industrial inventory adjustments will continue until the second half of the year.