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RNECY vs. ETF Alternatives
Tuesday, Dec 32013, 6:50 PM
Tuesday, Dec 32013, 6:50 PM| Comment!
- The Nikkei reports Sony (SNE) is looking to acquire a chip fab from struggling Renesas (RNECY), and plans to use it to expand CMOS image sensor production. The expected sale price is said to be $96M; an MOU could be signed as soon as the beginning of next week.
- The paper points out Sony already has a ~30% share of the CMOS image sensor market, thanks in part to growing sales to Apple, Samsung, and other mobile OEMs.
- The report comes as image sensor rival OmniVision (OVTI) provides soft guidance to go with an earnings beat, and reports of seeing "intensifying competition."
Monday, Nov 262012, 7:56 AMA fund backed by the Japanese government is set to pay $2.2B to buy 2/3 of chipmaker Renesas (RNECY.PK) from current owners Mitsubishi, NEC, and Hitachi, a source tells the Nikkei. Renesas, which rose 16.6% in Tokyo on the report, would reportedly shutter factories and cut as many as 5K jobs as part of the deal. Renesas is the top player in the microcontroller market, where it competes with Microchip, Freescale, STMicroelectronics, and others. |Monday, Nov 262012, 7:56 AM| Comment!
Wednesday, Aug 292012, 2:39 AMKKR (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. |Wednesday, Aug 292012, 2:39 AM| Comment!
Monday, Jul 22012, 4:02 PMRenesas (RNECY.PK) will announce a restructuring plan this week that will include laying off 1/3 of its work force and shuttering half of its chipmaking plants, Reuters reports. In exchange, Renesas will receive ¥100B ($1.26B) worth of loans from shareholders Hitachi (HIT), Mitsubishi, and NEC, along with four banks. A Saturday report from The Nikkei claimed Renesas was looking to sell or close 10 plants. TSMC (TSM - previous) could be interested in some of them. |Monday, Jul 22012, 4:02 PM| Comment!