Arab Today, arab today japan\s renesas sees fullyear loss
Last Updated : GMT 21:34:07
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Japan\'s Renesas sees full-year loss

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Arab Today, arab today Japan\'s Renesas sees full-year loss

Tokyo - AFP

Japanese semiconductor maker Renesas Electronics Tuesday reported a $429 million net loss for the April-June quarter and forecast a full-year loss because of the impact of the March 11 quake disaster.Renesas had a roughly 40 percent share in the global market for automobile engine and brake system microcontrollers, but its production was hit hard by the powerful March 11 quake and tsunami that rocked northeast Japan.Damage to its facilities sent shockwaves through the global auto industry by causing a supply crunch in the components, which are customized for each car model and for different software systems used by auto makers.Renesas said in the quarter it suffered a net loss of 33.2 billion yen -- compared with a 33.1 billion yen loss in the same period last year.The operating loss grew to 19.1 billion yen from a 339 million yen loss a year earlier, as sales plunged 29.0 percent to 207.2 billion yen.Renesas, which previously delayed giving a forecast as it assessed the impact of the quake disaster, now expects a net loss of 40 billion yen for the full year to March 2012. This compared with a 115 billion yen net loss last year, when the company incurred restructuring costs.The operating loss is now forecast at 28 billion yen, compared with an operating profit of 14.5 billion yen, while its sales forecast is estimated at 1.02 trillion yen against 1.14 trillion yen a year earlier.

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