One of Japan's last-standing memory-chip makers could soon be a distant memory if it doesn't turn around fast.
As Dow Jones Newswires reports Monday, Elpida Memory Inc., which is struggling under a heavy debt load and losses, said it has filed for bankruptcy protection, and that its debts stood at 448 billion yen (US$5.6 billion) as of March 31, 2011. The company was unable to finance upcoming debt repayments due in March and April, and has posted operating losses for five consecutive quarters. This would be the biggest bankruptcy among manufacturers in post-war Japan.
But Elpida probably won't be the last dynamic random access memory, or DRAM firm, to go under - or at least to go through some really tumultuous times ahead. (Wall Street Journal)
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