Six Japanese semiconductor makers released downbeat earnings results for the first half of the year, many of them suffering from a semiconductor market malaise, according to a report in the Nihon Keizai Shimbun, Japan's largest business daily.
Mitsubishi Electric had a pretax profit of 4.3 billion yen, but it was down 13 percent year on year, on a 3 percent dip in sales to 1.3 trillion yen. The company was hurt-to the tune of 18 billion yen-by its retreat from semiconductor businesses in the U.S.
Oki Electric posted pretax loss of 24.8 billion yen--the first in five years.
All the major semiconductor firms are posting losses in their semiconductor divisions as a result of falling memory chip prices, the report said.
Toshiba is expected to see profits plunge 61 percent, while NEC will see a 38 percent drop in profits.