Shareholders of Nanya Technology have approved the company's plans to cut its paid-in capital by 90% to NT$23.96 billion (US$797.95 million) from NT$239.61 billion previously as a means to improve its financial structure.

　　Nanya will be able to reduce its accumulated losses to NT$17.4 billion from NT$233.08 billion after the capital reduction slated to be effective from June 27, with new shares to be listed on September 9, according to the company.

　　Nanya posted revenues of NT$4.16 billion for May, up 12.7% sequentially but down 9.7% on year. Accumulated revenues for the first five months of 2014 totaled NT$19.53 billion, increasing 4.8% from a year earlier.

　　Meanwhile, Nanya also reported net profits of NT$7.8 billion for the first four months of 2014 compared to NT$8.11 billion for all of 2013. EPS for the January-April period of 2014 stood at NT$0.33.