Thanks for the memory
Tech-on reports that Hitachi is selling some its shares in DRAM-maker Elpida. A Japanese media outlet says Hitachi wants to exit the DRAM business altogether.
Hitachi and NEC jointly formed Elpida in September, 2005, from their own DRAM operations. Mitsubishi placed its DRAM operation into Elpida subsequently. NEC sold some shares in September last year, leaving it with about 6 percent of the concern. Hitachi has just lowered its holding from around 11 percent to 10 percent, with a spokesperson saying: “It’s time to recover our investment.” It is still Elpida’s largest shareholder.
The background here is that Hitachi is making losses, notably in its flat-panel TV business, and needs to retrench and concentrate on the more profitable parts of its many activities. It will progressively sell off its Elpida holdings.
The company will sell its shares in Hitachi Semiconductor Singapore Pte. to Chartered Semiconductor Manufacturing of Singapore on Monday.
However it has very recently decided not to sell a stake in its hard disk drive unit to Silver Peak, a private equity company.