The third largest semiconductor semiconductor maker in the world "Elpida Memory" went bankrupt

Elpida Memory(3206 employees) on 27th February also found out that it is a policy to apply for the application of the Corporate Rehabilitation Law to the Tokyo District Court, and the total liability on a consolidated basis was approximately 48,183 million 3 million as of the end of December 2011 Yen, bankruptcy of listed companies was the largest this year, the debt amount is the largest this year (30th in the past), and the manufacturing industry will be the largest ever.

Elpida to apply for the company reorganization law: Nihon Keizai Shimbun

Elpida Memory, Inc. | Bankruptcy Report | Latest Articles | Tokyo Shokko Research
http://www.tsr-net.co.jp/news/flash/1217131_1588.html

According to Tokyo Shoko Research, the cause of bankruptcy is as follows.

However, in recent years, the result has deteriorated due to "yen appreciation" and product price decline due to DRAM demand for PC and tablets. Although there were also releases of e-book readers, rising of Ultrabook, DRAM makers' reduction of production and inventory adjustments, profitability also became severe, and consolidated sales for the first half of the year were 159,777 million yen in the same period of the previous year Half of 325,132 million yen), a record current account deficit of 57,958 million yen was posted.

For this reason, we are pursuing negotiations with Nanzhua in Taiwan, Micron Technology in the USA, SMIC in China, etc. to negotiate for capital and business tie-ups and plan to re-certify the Activities Act It was. Redemption of corporate bonds on the due date on January 24, 24 was handled by own funds, but also on the 22nd of March the same 15 billion yen, the repayment of borrowings 50 billion by the end of March, to the Japanese investment bank on April 2 to 2 Repayment of 10 billion yen and repayment of cofinancing loan amounted to 67 billion yen, and was struggling to respond.

Under such circumstances, the consolidated settlement of accounts for the fiscal year ended March 2012 was forecasted to have a deficit of 120 billion yen. At the end of March the date of the Activity Law ceased and unless it was recertified, the investment banking subsidiary raised 30 billion yen from the Development Bank of Japan, and the total cash on hand held at the end of January was about 50 billion It was decreasing to yen. On the 3rd of February, the extraordinary shareholders' meeting scheduled for approval of capital reduction was planned, but also on Monday, Micron Technology's former chairman and CEO, Steve Appleton, died in an airplane accident I was. On February 14, we disclosed that 'important uncertainty' on the premise of going concern is recognized, stock price on 29th February marked ¥ 294 less than the previous day, updated lowest since listing . As the fund of 92 billion yen is needed from the end of March to April, we have concluded that the prospect of future cash flow will not be raised and the current measures were taken.

In addition, typical products of the memory that we were manufacturing are the following products.

Product Information | Elpida Memory
http://www.elpida.com/ja/products/index.html


Incidentally,Press conference at Tokyo Stock Exchange from 18:30It is said to be.