Feb. 28 (Bloomberg) -- Yukio Sakamoto, chief executive officer or Elpida Memory Inc., spoke yesterday in Tokyo about the company's decision to file for bankruptcy.
Elpida, the last Japanese maker of computer-memory chips, lost money for five straight quarters. It sought protection at the Tokyo District Court yesterday with liabilities of 448 billion yen ($5.5 billion), according to a filing with Japan’s finance ministry. Elpida, whose market value shrank by 95 percent in the past five years, will be delisted from the Tokyo Stock Exchange on March 28. (Translated excerpts. Source: Bloomberg)