Filed under: Japan , Plants/Manufacturing , Honda , Nissan , Toyota , Earnings/Financials According to a Reuters report, the Japanese government and several of the country’s largest manufacturers are joining forces to rescue troubled electronics manufacturer Renesas Electronics. Toyota , Nissan , Honda , Panasonic , Canon and Denso are set to contribute a combined $637.9 million to a $2.55 billion deal that will see the group gain control of the company. Robert Bosch GmbH is also considering investing in the electronics manufacturer. Why are so many varied corporations interested in Renesas’ future? The company is the world’s leading supplier of microcontroller chips. Even so, the strengthening yen and heavy competition from South Korea’s Samsung Electronics Company has seen Renesas suffer through five years of financial losses. As a result, the company has laid off 12 percent of its workers and currently has plans to either sell or consolidate more than half of its domestic manufacturing facilities. Toyota, Nissan, Honda to assist in $2.55B bailout of chipmaker Renesas with Japanese gov. originally appeared on Autoblog on Mon, 15 Oct 2012 09:59:00 EST. Please see our terms for use of feeds .
Filed under: Japan , Plants/Manufacturing , Honda , Nissan , Toyota Japan’s Renesas Electronics Corp. is moving up the restart date for automotive microchip production at its last inactive plant. The company says it should have operations back up and running at its Naka plant the week of June 15, a couple weeks earlier than its original estimate. Renesas is the world’s largest supplier of chips for cars, and is a major kink in the parts supply line for Japanese automakers. The Naka plant was damaged in the March earthquake , and will be Renesas’ last facility to resume production. The plant will operate on a limited schedule at first, building around 3,000 200-millimeter wafers a month, down from a pre-earthquake total of almost 34,000. To compensate, the company has shifted some production burden from Naka to its other manufacturing plants. For now, Renesas is focused on getting any production restarted, but should know by mid-May when it can resume at full capacity. Read the press release after the jump . [Source: Renesas via Automotive News | Image: Renesas Electronics Corporation] Continue reading Renesas Electronics to restart automotive microchip production early Renesas Electronics to restart automotive microchip production early originally appeared on Autoblog on Sat, 23 Apr 2011 14:05:00 EST.