Renesas says to receive $1.8 bln in govt-backed bailout

TOKYO Mon Dec 10, 2012 1:50am EST

TOKYO Dec 10 (Reuters) - Struggling Japanese chipmaker Renesas Electronics Corp said on Monday it will receive a total of 150 billion yen ($1.8 billion) in aid from a government-backed fund and manufacturers including key client automakers to help it stay afloat.

Renesas, the world's fifth-largest microchip maker, also expects an additional 50 billion yen in aid from the government fund.

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