Renesas Electronics' industrial and IoT businesses face pressure

Renesas Electronics' Industrial, Infrastructure and Internet of Things (IIoT) business faced great pressure in fiscal 2024, with full-year revenue falling by 20.3% to 636.8 billion yen. At the same time, the company's gross profit margin also fell slightly from 57.0% to 56.1%. This change was mainly due to adjustments in the product portfolio and an increase in the proportion of low-gross-margin products in the IIoT field.