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.
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.