Renesas reckons with less turnover and higher losses

Japanese chip producer Renesas Electronics has downed its forecast for the fiscal year ending March 31, 2012 — in terms of both turnover and expected losses. Compared to the last forecast of October 31, 2011, Renesas Electronics is now looking for turnover of only 885 billion yen (11.6 billion US dollars). The earlier figure was 968 billion yen. Expected losses at the end of the fiscal year (March 31) are now put at 57 billion yen (747 million US dollars) instead of the previous 40 billion yen.