Renesas to receive $1.8 billion in government-backed bailout

US-RENESAS-BAILOUT:Renesas to receive $1.8 billion in government-backed bailout

TOKYO (Reuters) - Struggling Japanese chipmaker Renesas Electronics Corp said on Monday it will receive a total of 150 billion yen ($1.8 billion) in aid from a government-backed fund and manufacturers including key client automakers to help it stay afloat.

Renesas, the world's fifth-largest microchip maker, also expects an additional 50 billion yen in aid from the government fund.

($1 = 82.3700 Japanese yen)

(Reporting by Mayumi Negishi and Shinichi Saoshiro; Editing by Michael Watson)

---