But if this were the reason it would be a poorly researched and...

But if this were the reason it would be a poorly researched and uninformed basis for not properly valuing the commercial transaction.

When one deep dives into Renesas and reads its investor reports, financials, policies, corporate structure it considers itself to be one company and reports all its earnings based on industry segments no matter where they derive from across its global operations. If you deal with Renesas Europe, Japan, China, Canada, USA you are dealing with Renesas under its global management and strategic plan.

If they sign a deal with a supplier it will be as part of its industry sectors/divisions such as automotive, IoT, etc all reporting back to Renesas HQ in Japan.

There is a huge and over whelming amount of material on their web site but I have selected the following link as a representation of how Renesas is structured and deals with its global arms.

This Renesas deal is Renesas HQ approved as part of its global management plan and is or will be recognised as such by fund managers who know how to research and read balance sheets and strategic plans:

https://www.renesas.com/document/rep/earnings-report-3rd-quarter-ended-september-30-2020