Japanese DRAM Maker Elpida Files For Bankruptcy

Law360, New York (February 27, 2012, 3:20 PM EST) -- Elpida Memory Inc., Japan's last remaining maker of dynamic random access memory computer chips, filed for bankruptcy protection Monday in its home country, blaming fallen prices resulting from industry competition and other factors.

Headquartered in Tokyo, Elpida said in a statement that it was grappling with about 448 billion yen (about $5.6 billion) in debt as of March 31 and that it quickly would have faced a cash shortage had it not pursued the corporate reorganization proceedings.

“Moreover, we assumed that, if we left this situation...
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