We show that renormalized non-commutative scalar field theories do not reduce
to their planar sector in the limit of large non-commutativity. This follows
from the fact that the RG equation of the Wilson-Polchinski type which
describes the genus zero sector of non-commutative field theories couples
generic planar amplitudes with non-planar amplitudes at exceptional values of
the external momenta. We prove that the renormalization problem can be
consistently restricted to this set of amplitudes. In the resulting
renormalized theory non-planar divergences are treated as UV divergences
requiring appropriate non-local counterterms. In 4 dimensions the model turns
out to have one more relevant (non-planar) coupling than its commutative
counterpart. This non-planar coupling is ``evanescent'': although in the
massive (but not in the massless) case its contribution to planar amplitudes
vanishes when the floating cut-off equals the renormalization scale, this
coupling is needed to make the Wilsonian effective action UV finite at all
values of the floating cut-off.Comment: 35 pages, 8 figures; typos correcte