June 26, 2012

KKR Might Invest In Troubled Chip Maker Renesas Elec.


According to The Nikkei, Renesas Electronics Co., a struggling chipmaker, hopes to raise its capital by issuing roughly 50 billion yen in new shares to Kohlberg Kravis Roberts & Co., an US-based investment firm. Renesas announced it posted a group net loss of 62.6 billion yen for the year ended March. This is the second straight year to post a net loss. As a result, Renesas need structural reforms as well as financial supports. Renessa's major shareholders NEC Corp. , Hitachi Ltd., and Mitsubishi Electric Corp.. are ready to provide financial assistances.

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