Chipmaker Renesas to unveil its restructuring plans
Struggling Japanese chipmaker Renesas is set to unveil its proposed restructuring plan this week.
Its shares lost 25% of their value in two days, after Renesas said it was planning to cut 10,000 jobs and outsource some chip production to Taiwanese rival TSMC.
Japanese chipmakers like Renesas are among the world's biggest. But they have been undergoing their biggest shakeout in a decade amid tougher competition and rising costs.
Earlier this year Elpida Memory filed for Japan's biggest manufacturing bankruptcy in two years and de-listed from the Tokyo stock exchange.
Asia Business Report's Rico Hizon asked Nicolas Baratte, head of technology research at CLSA Asia-Pacific Markets what the outlook was now for Japan's semiconductor industry.