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Elpida to Receive 2.1 Billion USD in Aid

Discussion in 'News' started by btarunr, Jun 27, 2009.

  1. btarunr

    btarunr Editor & Senior Moderator Staff Member

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    DRAM major Elpida, like most other Japanese companies, is not seeing the best of days, in fact its worst. The world's third largest DRAM company holds great importance to the Japanese electronics industry. The state-backed Development Bank of Japan (DBJ) will acquire shares in the company, and the government has approved dispatching 30 billion Yen to the company as early as by next week. DBJ separately plans to offer 10 billion Yen, while another state-backed financial institution Japan Bank for International Cooperation, will provide 20~30 billion Yen in emergency loans.

    Three of Japan's megabanks and others are expected to lend around 100 billion Yen to Elpida, said Nikkei daily, adding that a public-private fund that supports innovation will also consider providing tens of billions of Yen. In all, at least US 2.1 billion worth of aid is coming Elpida's way. More companies will follow suit and seek government aid.

    [​IMG]

    Source: AFP on Google News
     
  2. Easo

    Easo

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    And how many will sink till bottom? Not all companies can be saved.
     
  3. FreedomEclipse

    FreedomEclipse ~Technological Technocrat~

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    well If more brands go under then that will leave a gap nodoubt some japanese company will muscle in on & claim (possibly)
     
  4. r1rhyder New Member

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    Just let me know if there are any more countries or companies I can help save with my tax dollars:toast:
     
  5. twicksisted

    twicksisted

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    not $$$ its jananese yen from japanese banks ;)
     
    r1rhyder says thanks.
  6. r1rhyder New Member

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    Oh. Silly me, I't early here.:slap:
     
  7. SystemViper

    SystemViper

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    how can i get my share of the pie... :toast::nutkick::roll::nutkick::toast:
     
  8. lemonadesoda

    lemonadesoda

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    I remember it was only a few years ago that the US was fining Japanese companies for "anticompetitive" behaviour, like selling at cost or below cost, or state aid issues.

    Oh, how the world has changed.
     
  9. btarunr

    btarunr Editor & Senior Moderator Staff Member

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    By robbing a Japanese bank.
     
  10. WarEagleAU

    WarEagleAU Bird of Prey

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    This is good news as Micron (worlds number 1) and Samsung (worlds number 2 I take it) are also faltering and need help. Elpida and Promos make some damn nice ICs so I would hate to lose them.
     
  11. Wile E

    Wile E Power User

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    What the hell? It's bad enough the US Govt is giving money to domestic businesses that failed, but now they are giving it to foreign businesses as well? This shit has got to stop. Let the bad businesses fail already, so we can get to rebuilding our economy, instead of trying to prop it up with band aid fixes.
     
  12. FordGT90Concept

    FordGT90Concept "I go fast!1!11!1!"

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    I have a feeling the Japanese will be as peeved as we are at GM/Chrysler bailouts. You can't save a sinking ship. How many economies have to be dragged down until the people in charge realize this?
     
    Crunching for Team TPU
  13. btarunr

    btarunr Editor & Senior Moderator Staff Member

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    Nono, it's Japanese government that is bailing this company out. The amount in JPY is converted to USD to make you understand the amount better.
     
  14. OnBoard

    OnBoard New Member

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    Maybe the topic should be 200 Billion Yen in Aid and in the story convert it to USD :)

    Got Elpida chips in my memory, did my part to aid.
     

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