Renesas in final talks on Y100 bln support -sources
TOKYO, June 15 |
TOKYO, June 15 (Reuters) - Struggling Japanese chipmaker Renesas Electronics Corp is in final talks to receive a total of 100 billion yen ($1.26 billion) in financial support from its three major shareholders and four banks, sources familiar with the matter said.
Renesas, the world's fifth-largest chipmaker and a product of successive mergers between its major shareholders Mitsubishi Electric Corp, Hitachi Ltd and NEC Corp , will receive support from the three firms and undertake deep restructuring steps, the sources said.
The chipmaker had been planning to raise more than 100 billion yen to cover a sweeping restructuring plan that would cut at least 12,000 jobs, separate sources told Reuters last month.
- Tweet this
- Share this
- Digg this