Mexican Media Brands
Japan Bails Out Renesas
Government-owned Innovation Network Corp. of Japan (INCJ) is investing $1.7 billion to buy a 69.2% stake in floundering chipmaker Renesas Electronics Corp.
#electronics
Share
Government-owned Innovation Network Corp. of Japan (INCJ) is investing $1.7 billion to buy a 69.2% stake in floundering chipmaker Renesas Electronics Corp.
The company supplies about 30% of the world's microprocessors. When Renesas' plant in Japan was damaged by the country's earthquake last year, the disruption crippled the company and disrupted car production almost everywhere.
Eight Renesas customers, including Denso, Nissan and Toyota, pledged last month to collectively invest $145 million and receive an estimated combined stake of 6%.
Renesas also received $3.1 billion in loans from its banks and major shareholders. Renesas is requesting an additional $606 million of aid from Innovation Network.
The company has shed 7,500 employees this year and aims to sell or close eight of its 18 plants within three years. Over five years, Renesas plans to invest $1.7 billion of the funds raised on upgrading its factories and developing new microcontrollers.
RELATED CONTENT
-
48-volt Hits Production
“In 2025, approximately one in five new vehicles across the world will be equipped with a 48-volt drive,” Juergen Wiesenberger, head of Hybrid Electric Vehicles at Continental North America said last week.
-
2018 Buick Regal GS AWD
For those who grew up driving sedans, or for those who would like an experience that is unlike what’s provided by things with a high H-point, the Buick Regal GS is an intriguing proposition.
-
TRW Multi-Axis Acceleration Sensors Developed
Admittedly, this appears to be nothing more than a plastic molded part with an inserted bolt-shaped metal component.