Turn off the Ad Banner  

To print: Select File and then Print from your browser's menu.

    -----------------------------------------------
This story was printed from CdrInfo.com,
located at http://www.cdrinfo.com.
-----------------------------------------------

Appeared on: Tuesday, July 31, 2012
Renesas To Receive $633 Million Support From Its Shareholders

Renesas Electronics Corp on Tuesday secured a combined 49.5 billion yen ($633 million) in financial support from three major shareholders - Mitsubishi Electric Corp, NEC and Hitachi.

The Japanese chip maker has been seeking support after sinking to a net loss in the fiscal year ended in March, hit by a strong yen and fierce competition from the likes of Samsung Electronics.

Mitsubishi Electric will provide Renesas with 14.5 billion yen in loans, while Hitachi said separately it would supply loans worth 17.5 billion yen. The loans will be made on October 1.

NEC said it would provide 17.5 billion yen in financial support in the form of guarantees.


Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .