Feeds

Flash mem maker Spansion Japan files for bankruptcy

Sale in the works?

Internet Security Threat Report 2014

Spansion Inc. - one of the world's largest flash memory makers - says its Japanese unit has filed for bankruptcy protection.

With $810m in liabilities, Spansion Japan voluntarily sought protection from creditors as it attempts to restructure itself according to its parent company.

The parent company does not expect the Japanese filing to affect global operations. "We intend for Spansion Japan to continue to operate throughout the restructuring period," reads a canned statement from John Kispert, Spansion's new president and CEO.

"Our Japanese operations have sufficient cash on hand to meet their immediate, short-term working capital needs and we plan to maintain our high standards of excellence and our commitments to product quality, safety and outstanding customer service."

The parent company is already talking with shareholders about restructuring - and possibly a sale. "We are making progress in our constructive discussions with an ad hoc committee of secured noteholders, to find a mutually beneficial agreement as we seek to resolve Spansion's capital structures," Kispert said.

A joint venture of AMD and Fujitsu, Spansion makes so-called NOR flash memory, a less-popular competitor to NAND flash. The company is the third largest flash manufacturer, behind Samsung and Toshiba. ®

Beginner's guide to SSL certificates

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
DOUBLE BONK: Testy fanbois catch Apple Pay picking pockets
Users wail as tapcash transactions are duplicated
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
In the next four weeks, 100 people will decide the future of the web
While America tucks into Thanksgiving turkey, the world will be taking over the net
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.