NEC, Hitachi to provide additional funding for Elpida

NEC Corp. and Hitachi Ltd have decided to make additional investments of up to ?9 billion ($75.70 million at $1:?118.89) in Elpida Memory Inc. Elpida is seeking for additional funding from investors in order to enhance its production of 300mm wafer fabrication, with a target monthly output of 15,000 wafers at its Hiroshima plant.

Elpida also added that Intel will invest in its 300mm wafer fabrication, and has agreed to join the alliance. Since Elpida is now expecting to succeed in raising necessary funds for its 300mm wafer plant through this additional funding from Intel, NEC and Hitachi, respectively, decided to make additional investments. Moreover, NEC and Hitachi will purchase Elpida's stock from Intel under certain conditions.