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Impact of earthquake still hitting Japanese component firms

Simon Quicke

The fallout from the Japanese earthquake continues to plague the components industry with revenues and forecasts still impacted by the disaster.

Semiconductor manufacturer Renesas Electronics has issued an update along with its half year numbers warning that it is unable to predict the next quarter because of the ongoing impact of the quake and revealing just what the disaster did to its numbers.

Reporting a special loss for the quarter ended 30 June the firm was hit to the tune of 11,857m Yen and is likely to face further issues throughout the course of its fiscal year.

"Renesas Electronics Group's multiple production sites located in the Tohoku and Kanto areas, including the Naka factory in Hitachinaka, Ibaraki suffered damage to their buildings and manufacturing equipment," stated the vendor.

The timing of the release of financial information has already been derailed and there was an explanation of just how difficult it has become sorting out the figures given what happened earlier this year.

"Due to the impacts of the Great East Japan Earthquake, Renesas Electronics was unable to report the forecasts for the Second Quarter Ending September 30, 2011 and the Fiscal Year Ending March 31, 2012, as well as the forecasts for cash dividends for the year ending March 31, 2012," it stated.

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