NEC Corp, the third-largest chipmaker, had a loss in the first half as makers of personal computers and mobile phones curtailed chip purchases and said it will shutter a Philippines hard-disk drive plant.
NEC had a group loss of ?29.8 billion (US$243 million), or ?18.07 a share, in the six months to Sept. 30, compared with a profit of ?20.5 billion, or ?12.58, in the year-ago period.Sales were almost unchanged at ?2.47 trillion.
The Tokyo-based chipmaker is cutting jobs and paring production to restore its chip business to health.
The results for Toshiba and NEC "look bad, particularly in the semiconductor area," said Katsuaki Furutachi, a senior fund manager at Asahi Life Asset Management Co who helps manage about ?150 billion in equities.
Furutachi said he sold all his holdings in electronics makers in July because of the deteriorating operating environment and won't purchase the shares again until prices decline.
NEC's shares fell ?36, or 2.8 percent to 1,242 before the release of the first-half earnings. The shares have declined about 41 percent since the beginning of the year compared with rival Toshiba's 33 percent slide.
Though NEC's results were slightly better than analysts had expected, the chipmaker said it will stop producing hard-disk drives in the Philippines, firing 1,400 workers by the end of December.
CSBC Corp, Taiwan (台灣國際造船) yesterday released the first video documenting the submerged sea trials of Taiwan’s indigenous defense submarine prototype, the Hai Kun (海鯤), or Narwhal, showing underwater navigation and the launch of countermeasures. The footage shows the vessel’s first dive, steering and control system tests, and the raising and lowering of the periscope and antenna masts. It offered a rare look at the progress in the submarine’s sea acceptance tests. The Hai Kun carried out its first shallow-water diving trial late last month and has since completed four submerged tests, CSBC said. The newly released video compiles images recorded from Jan. 29 to
DETERRENCE EFFORTS: Washington and partners hope demonstrations of force would convince Beijing that military action against Taiwan would carry high costs The US is considering using HMAS Stirling in Western Australia as a forward base to strengthen its naval posture in a potential conflict with China, particularly over Taiwan, the Wall Street Journal reported on Saturday. As part of its Indo-Pacific strategy, Washington plans to deploy up to four nuclear-powered submarines at Stirling starting in 2027, providing a base near potential hot spots such as Taiwan and the South China Sea. The move also aims to enhance military integration with Pacific allies under the Australia-UK-US trilateral security partnership, the report said. Currently, US submarines operate from Guam, but the island could
RESTRAINTS: Should China’s actions pose any threat to Taiwan’s security, economic or social systems, China would be excluded from major financial institutions, the bill says The US House of Representatives on Monday passed the PROTECT Taiwan Act, which states that Washington would exclude China from participating in major global financial organizations if its actions directly threaten Taiwan’s security. The bill, proposed by Republican Representative Frank Lucas, passed with 395 votes in favor and two against. It stipulates that if China’s actions pose any threat to Taiwan’s security, economic or social systems, the US would, “to the maximum extent practicable,” exclude Beijing from international financial institutions, including the G20, the Bank for International Settlements and the Financial Stability Board. The bill makes it clear that China must be prepared
Taiwanese trade negotiators told Washington that Taipei would not relocate 40 percent of its semiconductor production to the US, and that its most advanced technologies would remain in the nation, Vice Premier Cheng Li-chiun (鄭麗君) said on Sunday. “I told the US side very clearly — that’s impossible,” Cheng, who led the negotiation team, said in an interview that aired on Sunday night on Chinese Television System. Cheng was referring to remarks last month by US Secretary of Commerce Howard Lutnick, in which he said his goal was to bring 40 percent of Taiwan’s chip supply chain to the US Taiwan’s almost
RSS