Elpida to Receive 2.1 Billion USD in Aid

btarunr · Jun 27, 2009

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.

View at TechPowerUp Main Site

Easo · Jun 27, 2009

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

FreedomEclipse · Jun 27, 2009

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

r1rhyder · Jun 27, 2009

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

twicksisted · Jun 27, 2009

r1rhyder said:
Just let me know if there are any more countries or companies I can help save with my tax dollars

Three of Japan's megabanks and others are expected to lend around 100 billion Yen to Elpida

not $$$ its jananese yen from japanese banks

r1rhyder · Jun 27, 2009

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

SystemViper · Jun 27, 2009

how can i get my share of the pie... :toast:

lemonadesoda · Jun 27, 2009

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.

btarunr · Jun 27, 2009

SystemViper said:
how can i get my share of the pie...

By robbing a Japanese bank.

WarEagleAU · Jun 27, 2009

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.

Wile E · Jun 29, 2009

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.

FordGT90Concept · Jun 29, 2009

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?

btarunr · Jun 29, 2009

Wile E said:
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.

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.

OnBoard · Jun 29, 2009

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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Elpida to Receive 2.1 Billion USD in Aid

btarunr

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Easo

FreedomEclipse

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r1rhyder

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twicksisted

r1rhyder

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SystemViper

lemonadesoda

btarunr

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WarEagleAU

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Wile E

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FordGT90Concept

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btarunr

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