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BRIEF-NEC Corp plans to sell portion of stake in Renesas Electronics-Nikkei
June 5, 2017 / 5:32 PM / 4 months ago

BRIEF-NEC Corp plans to sell portion of stake in Renesas Electronics-Nikkei

June 5 (Reuters) - Nikkei:

* NEC Corp plans to sell portion of stake in Renesas Electronics, sale is expected to bring in more than 5 billion yen ($45.2 million) for Co - Nikkei

* NEC corp’s voting stake in Renesas is expected to fall from 8.9 percent to the 6 percent range - Nikkei

* Proceeds from Renesas divestment will boost NEC’s free cash flow for current fiscal year, which looks likely to exceed 90 billion yen - Nikkei

* NEC's forecast of 10 percent rise in group net profit for current fiscal year ending March 2018 does not take into account Renesas divestment - Nikkei Source text: (s.nikkei.com/2rLXwLo) Further company coverage:

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