Struggling chip maker Elpida Memory Inc. secured government approval Tuesday to tap ¥30 billion in emergency investment under a new financial aid program.
Elpida, the world's third-largest maker of dynamic random access memory chips, will also get bank loans and additional investment, including from its Taiwanese partner. In total, the company is expected to receive ¥160 billion in fresh funds.
The manufacturer, which has experienced a group net loss for two straight years on tumbling chip prices amid the global recession, is the program's first beneficiary.