Elpida on Monday issued preferred shares worth 30 billion yen ($322.7 million). These shares were issued to the government-run Development Bank of Japan Inc. In recent times, Elpida also said that it will raise about 20 billion yen ($215.1 million) from Taiwan Memory Corp. (TMC). a Taiwanese DRAM consortium.

Tuesday's offering includes up to 55 million in new shares, which is worth $844 million. The offering will help Elpida ''fund (its) research and development and capital expenditures,'' according to Elpida (Tokyo). ''In respect of the research and development funding referred to above, we plan to maintain and improve the competitiveness of our 'premier DRAM' business through research and development efforts.''

It's been a tough time for Elpida and other memory makers amid the downturn. Elpida recently posted a net loss of 44.4 billion yen in the quarter ($465.2 million), compared to a loss of 60.9 billion yen ($638 million) in the previous quarter and a loss of 13.8 billion yen ($144.6 million) a year ago. Elpida's 1Q net sales were 72.6 billion yen ($760.7 million), up 56.1 percent quarter-over-quarter but down 33.6 percent a year ago.

By: DocMemory
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