Wednesday, January 18, 2012
Elpida Memory Inc. aims to put together a drastic restructuring plan by the end of January, which it then hopes to show to its creditor banks, as the struggling chipmaker faces a slew of upcoming corporate bond and loan repayments, the Mainichi Shimbun reported in its Sunday morning edition.
The rationalization plan for Japan's only maker of the dynamic random access memory chips commonly used in personal computers and other consumer electronics is expected to center on a capital tie-up with a major Taiwanese DRAM chip manufacturer, the report said without citing any sources.
The negotiations with the Taiwanese company are ongoing, the report said, adding that Elpida is also looking to shift control of production from its plant in Hiroshima to a subsidiary in Taiwan, while also asking clients for prepayments on orders.
Elpida is scheduled to repay corporate bonds worth Y45 billion and loans from financial institutions of around Y50 billion by the end of March, in addition to about Y77 billion in loans from Japan's largest banks and others by April 2, the report said.
The chipmaker has been struggling to cope with a slump in the semiconductor market and the soaring yen.
By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved
|
