Powerchip Technology and ProMOS Technologies have both said the companies had no advance warning or knowledge about Japan-based Elpida Memory's plans to launch talks on capital tie-ups next month in a move to form a "Japan-Taiwan alliance."
Elpida president Yukio Sakamoto will pay a visit to Taiwan in early 2011 to start the talks about some form of financial partnership with Powerchip and ProMOS, and aims to reach a deal by the end of the first quarter, according to Yomiuri Shimbun. Citing unnamed sources, the online daily reported Elpida is also considering setting up a holding company in Taiwan to integrate business with the two companies and subsidiary Rexchip Electronics.
Elpida earlier announced it would issue 180-200 million units of Taiwan depositary receipt (TDR) to raise a total of 10.097 billion yen (US$121.7 million), and has gained approval for the listing from Taiwan's Industrial Development Bureau (IDB) under the Ministry of Economic Affairs (MOEA).