Rashi Semiconductor Solutions, the joint venture between Rashi Peripherals and Japan’s Restar Corporation, is targeting $100 million in revenue within 18 months, accelerating its earlier three-year timeline, executives said.
The joint venture, Rashi Semiconductor Solutions Pvt Ltd, was announced in August, with Rashi Peripherals holding a 74% stake and Japan’s Restar Corporation acquiring the remaining 26%.
Headquartered in Bengaluru, the venture will focus on semiconductor distribution, image-sensing technologies, and localised engineering solutions for sectors such as automotive, industrial robotics, and electronics manufacturing.
“Currently, the contribution from the semiconductor vertical to our company is only 2-3%. However, with the joint venture, we are making it a separate company,” Rajesh Goenka, Director and CEO of Rashi Peripherals, said. “Our aspiration is high; we want to hit $100 million in revenue within the first 1.5 years and further scale at an accelerated pace.”
Rashi Peripherals, which reported revenue of $1.6 billion last year, has been building its semiconductor business over the past six years. The company created a dedicated team of business development managers and field application engineers and established a laboratory in Bengaluru to develop prototypes for applications across industries.
While the semiconductor business remains a small part of its overall operations, the joint venture is intended to accelerate growth by combining Rashi’s distribution network and local market presence with Restar’s engineering expertise and product portfolio
Restar, a $4 billion Japanese semiconductor distribution company, has about 4,500 employees, of whom around one-third are engineers. The company plans to transfer engineering capabilities to the Indian venture, helping it move beyond conventional distribution towards design-led solutions for local manufacturers.
“Restar is an engineering-oriented company. We will transfer this engineering power to the joint venture to make it also a technology engineering-oriented company, which would help it differentiate from other Indian semiconductor distribution companies,” said Shigeru Iwata, senior management personnel at Restar Corporation.
The joint venture has identified three priorities: expanding its product portfolio, building design capabilities in India and onboarding Japanese manufacturers operating locally.
The partnership could also expand the range of components and solutions offered to Indian customers.
“Restar has over 2,000 products in its portfolio, and we have just 75. Theoretically, all 2,000 can come to the JV, which is a big upside offering that we can do,” Goenka said.
The company also plans to leverage Restar’s engineering expertise to strengthen its design capabilities. This could enable the venture to work with manufacturers on developing semiconductor solutions suited to specific applications, rather than limiting its role to component distribution.
The third opportunity lies in serving Japanese manufacturers that have established production facilities in India but are not currently customers of Rashi Peripherals.
“We have thousands of Japanese customers in Japan. They have India manufacturing products for example. In some cases, we design in Japan and deliver the products in India. But there are also quite a few Japanese customers in India that can now make their own decisions locally. So we should be able to leverage our relationships in Japan,” Iwata said.
The venture will initially target Japanese companies in the automotive sector, including original equipment manufacturers and Tier-1 suppliers, as well as consumer electronics manufacturers, including air-conditioning companies.
The joint venture will use Rashi’s existing infrastructure, including its presence across 57 towns and its Bengaluru laboratory, to develop application-specific prototypes and work with local manufacturers.
The company has already developed a prototype using a semiconductor chip to manage car headlights, Goenka said. It is also working on semiconductor applications for IoT-enabled ceiling fans, while chips intended for autonomous driving are undergoing software training.
“These are the basic, original first-level prototypes or concepts we develop in our laboratory. Then it goes for extensive modification and testing, and then production,” he said.
Demand from emerging industries such as robotics, the Internet of Things (IoT) and drones is another area the company plans to pursue by collaborating with Indian manufacturers on prototypes and solutions.
Rashi has already migrated its existing semiconductor customers to the joint venture and has close to 80 customers, including electronics manufacturing services (EMS) providers, robotics companies, design firms, automobile companies and Tier-1 manufacturers. Goenka said the customer base was expanding following the addition of Restar’s product range and engineering capabilities.
The company sees the joint venture as a way to participate in India’s semiconductor growth without manufacturing chips itself. Rashi Peripherals operates as a value-added distributor, providing components, technical support, application development and related services to manufacturers.
Published on October 20, 2026
