Japanese companies Fujitsu, NEC, Renesas and Toshiba have announced an agreement to develop a standard process to manufacture advanced chips with 45-nanometer technology. The deal will make mutual access to intelectual property and libraries easier. The partners also foresees the possibility of integration of their fabs in the future. In related news, Toshiba, Renesas and Hitachi said they will not go on with a plan to establish a joint semiconductor foundry, citing concerns over profitability.