TOKYO Renesas Electronics Corp, the world's No.1 maker of micro-controller chips used in cars, said Thursday it would appoint Hisao Sakuta from Omron Corp to be its new CEO and chairman.
Japanese chipmaker Renesas received a $1.8 billion government-led bailout last year as it attempts to turn around its loss-making system chip division to focus on its core micro-controller business that supplies major automakers like Toyota Motor Corp and Nissan Motor Co.
On Thursday, Renesas posted an operating loss of 23.2 billion yen ($234 million)in the year ended March 31, compared to the 56.8 billion yen loss logged in the previous year.
($1 = 98.8200 Japanese yen)
(Reporting by Mari Saito)