Toyota, Nissan, Honda to assist in $2.55B bailout of chipmaker Renesas with Japanese gov.
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.
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