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Renesas to seek support from major shareholders Thurs-Nikkei
May 30, 2012 / 11:43 PM / 5 years ago

Renesas to seek support from major shareholders Thurs-Nikkei

TOKYO, May 31 (Reuters) - Loss-making Japanese chipmaker Renesas Electronics Corp aims to raise more than 100 billion yen ($1.3 billion) to pay for restructuring costs and will take the plan to Hitachi Ltd and its two other major shareholders on Thursday, the Nikkei newspaper reported.

Renesas, the world’s largest maker of microcontroller chips for cars, plans to present a restructuring plan to Hitachi, Mitsubishi Electric Corp and NEC Corp that includes a plan to slash as many as 14,000 jobs and the sale of its Tsuruoka system-chip factory, the Nikkei said.

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