Renesas Gets $1.5 Billion Bailout from Government, Customers

Newswire

TOKYO, Sept 30 (Reuters) - Japanese chipmaker Renesas Electronics Corp received on Monday the 150 billion yen ($1.53 billion) bailout pledged last year by a government-led fund and major customers to aid the company's restructuring efforts. Eight of Renesas' customers, including Toyota Motor Corp , Panasonic Corp and Nissan Motor Co Ltd paid just over 12 billion yen through a third-party share allocation and the government-led fund contributed the rest. Hit by slumping orders ...

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