Semiconductor company goes bankrupt amid pressure from Chinese rivals originally appeared on TheStreet.
A once-promising Japanese chipmaker has collapsed under mounting debt, a slowdown in electric vehicle (EV) sales, and a surge in supply from Chinese rivals. The company filed for bankruptcy protection last week, less than three years after its widely heralded launch in late 2022.
The firm was backed by Japanese government-linked financial institutions and focused on producing power semiconductors critical to power electronics markets, including electric vehicles (EVs), industrial equipment, and home appliances.
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