Thursday, February 28, 2013
DJ: Elpida Says Tokyo District Court Approves Revival Plan
TOKYO--Japan's Elpida Memory Inc. said Thursday that the Tokyo District Court has approved to its revival plan, giving a green light to go ahead with the restructuring of the troubled chip maker led by U.S. chip maker Micron Technology Inc.
Japan's semiconductor industry woes came to a head as Elpida, the nation's only maker of dynamic random-access memory chips widely used in personal computers, filed for bankruptcy protection in late February last year.
Renesas Electronics Corp. (6723)--created by the merger of the chip units of Hitachi Ltd. (6501), Mitsubishi Electric Corp. (6503) and NEC Corp. (6701)--was saved last year by a Y200 billion bailout from the Japanese government.