Japanese chip-maker told to clear debts by April
Japan-based Elpida is in talks to merge with Micron and Nanya.
The three chip-makers are planning to come together, with Elpida reportedly facing an April deadline to repay debts.
Neither Micron nor Nanya answered the calls to confirm the reports.
Elpida said it is working on raising money via advance payments from clients, along with more of debt financing
Japanese journal Yomiuri reported that the ailing Japanese chip-maker requires 92bn yen to repay loans and bonds, without specifying any source of information, while Elpida denied those reports.
Elpida is also looking for a 100bn investment from Innovation Network Corp., a government-affiliated technology fund, in order to improve its chips.
Elpida, which is the third largest chip-maker worldwide after Hynix Semiconductor and Samsung Electronics, says it is open for a merger with Inotera Memories and Nanya, which has posted losses for seven consecutive quarters.
In October 2010, the company was considering buying stakes in Taiwanese chipmakers, according to Elpida CEO Yukio Sakamoto, who said the plans were put off.