NEC and Hitachi are going to get rid of some of their shares Renesas Electronics
According to the source, the Japanese company NEC plans to sell part of shares of Renesas Electronics. The proceeds of the funds will be used to develop technology to detect faces and other areas that are now important for NEC.
It is expected that the share sale will bring the company approximately 45.2 million dollars. After the sale of the NEC will remain for another 6% of shares in Renesas Electronics (currently 8.9 percent). In addition, Hitachi now owns 7.7% of shares in Renesas, intends to reduce their number by two percentage points.
In General, the source claims that, due to the successful recovery of the Renesas Electronics business after the tsunami in 2011, the shareholders of the company, which also Fund Innovation Network Corp. of Japan, which owns 70% of shares in Renesas, gradually get rid of the securities of this company.