Renesas posts $1.4billion annual net loss following earthquake in Japan
Renesas Electronics has posted an annual net loss of 115billion yen ($1.4billion) following the March earthquake in Japan that damaged one of its main plants.
The Japanese chipmaker, a major global supplier of chips used in consumer electronics and the automotive industry, said multiple production sites located in the Tohoku and Kanto area, including the Naka factory in Hitachinaka, Ibaraki suffered damage to their buildings and manufacturing equipment.
Due to the impact of the earthquake, the company recorded a loss on disaster of 49,504m yen, including an insurance income receivable of 16,000m yen.
