- Reuters
Hitachi and NEC seek up to $2.1 billion through Renesas share sale
(Reuters) -Hitachi and NEC Corp are aiming to raise up to $2.1 billion by selling their stakes in chipmaker Renesas Electronics, according to a term sheet seen by Reuters, joining a Japanese restructuring drive that has boosted shares. Investors have welcomed measures to improve capital efficiency at Japanese companies, sending share prices to 34-year highs. Companies have been spurred on by the Tokyo Stock Exchange, which this month published a list of companies that had disclosed plans to improve capital efficiency and is expected to put pressure on them to deliver.
