The global financial crisis has brought another casualty in Japan. This time it is the largest Chip Maker, Elpida Memory, is being bailed out by the Japanese government at a cost of 1.7 billion US dollars. The move is expected to save around 6000 Jobs and also ensure that there is continuing production of Random access memory chips, which are critical for the electronics industry.
Japanese companies have been facing demand slump following the US economic recession in the last one year, and many export oriented companies have gone under in this period.