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Mitsubishi Electric Corp. (MIELF)

- Grey Market
  • Thu, Mar. 12, 8:56 PM
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  • Sep. 23, 2012, 4:20 AM
    Japanese state-backed investment fund Innovation Network is in talks with major manufacturers - reportedly including Toyota (TM) and Panasonic (PC) - about acquiring struggling chipmaker Renesas, which is the subject of a bid of over ¥100B ($1.3B) from KKR. The Japanese government fears that KKR would "cut off the less-profitable operations" that are important for Japanese end users.
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  • Aug. 29, 2012, 2:39 AM
    KKR (KKR) is reportedly in negotiations to invest about ¥100B ($1.3B) in Renesas (RNECY.PK) in a deal that would give the U.S. P-E firm a controlling stake in the unprofitable Japanese chipmaker, which is owned by NEC, Hitachi and Mitsubishi Electric. The speculation sent Renesas' shares surging 35% in Tokyo.
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  • May 28, 2012, 6:34 AM
    Renesas (RNECY.PK) plunged 10.6% in Tokyo following reports that it intends to slash at least 12,000 jobs, sell loss-making operations, and raise ¥100 B ($1.26B) in fresh capital. Renesas said today that it would outsource the production of its high-end chips to Taiwan's TSMC, which may buy a Renesas fab.
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  • Sep. 20, 2011, 8:45 PM
    Japanese stocks open mixed in early trading but quickly turn higher as yen strength eases. The Nikkei Average gains +0.1% to 8,730.14, with large-cap techs and exporters leading the way: Renesas Electronics (RNECY.PK +8.2%), Hitachi (HIT +1%), Canon (CAJ +1%), Mitsubishi Electric (MIELF.PK +1%). On the downside, Elpida (ELPDF.PK -3.1%) and Advantest (ATE -2%)  both trade lower after J.P. Morgan cuts the shares to neutral.
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Company Description
Mitsubishi Electric Corp. is engaged in the manufacture and sale of electric machinery.
Sector: Technology
Country: Japan