Renesas sales drop, losses grow
Renesas has cut its revenue forecast for its 2013 financial year, ending 31 March, by 6.1% and now expects income to be ¥770billion ($9.3bn).
Overall, it expects to make a loss of ¥176bn ($2.1bn).
Semiconductor sales for the quarter ending 31 December 2012, were lower than expected, mainly due to reduced demand from automotive and industrial customers.
Looking forward, Renesas expects semiconductors sales in the final quarter to be lower than expected.
Renesas is in the midst of a major restructuring operation and has announced plans to consolidate manufacturing and cut jobs.
Following yesterday's announcement that Fujitsu and Panasonic are to combine their LSI chip businesses, it is reported that Fujitsu president Masami Yamamoto has said 'the door is open' for Renesas to join the venture.
