TOKYO May 22 Loss-making Japanese chipmaker
Renesas Electronics Corp plans to cut 6,000 jobs, about
15 percent of its workforce, and raise 50 billion yen ($630
million) through a third-party share allotment, the Yomiuri
Shimbun reported on Tuesday.
Renesas - a product of successive mergers of the chip
divisions of Mitsubishi Electric, Hitachi Ltd
and NEC Corp - will likely try to raise capital via
these three companies, the Yomiuri said without citing sources.
Renasas, a major supplier of chips to the auto industry,
posted a 62.60 billion yen net loss in the just-ended financial
year, hit by natural disasters in Japan and Thailand, a sluggish
economy and a strong yen.
($1 = 79.3500 Japanese yen)
(Reporting by Ayai Tomisawa; Editing by Chris Gallagher)