Elpida Announces a Change in Its Equity Investment Relationships
TOKYO, JAPAN, September 13, 2005 - Elpida Memory, Inc (Elpida), Japan's leading global supplier of Dynamic Random Access Memory (DRAM) products, today announced that its leading shareholder, Hitachi, has sold a portion of its Elpida shares. As a result of the sale, Elpida will no longer be counted as an affiliate of Hitachi.
(1) Company name: Hitachi, Ltd. (Hitachi) (2) Headquarters: Chiyoda-ku, Tokyo, Japan (3) President, Chief Executive Officer and Director: Mr. Etsuhiko Shoyama
- Number of shares sold, amount of voting stock before and after changes in stock ownership (along with total stock ownership) and percentages of voting stock
Pre-sale (as of July 31, 2005) Post-sale Shareholder No. of Shares to Be Sold Voting Stock (Total Stock Ownership) % of Voting Stock* Shareholding Rank Voting Stock (Total Stock Ownership) % of Voting Stock* Shareholding Rank Hitachi, Ltd. 4,000,000 229,999
23.84% 2nd 189,999
*Note: The amount of voting stock as of both July 31, 2005 and today is 964,611 compared with 919,811 on March 31, 2005. The increase is calculated as follows:
964,611 (total voting stock as of July 31, 2005 and today) = 919,811 (total voting stock as of March 31, 2005) + 44,800 (voting stock raised in May and June through a conversion of Class B stock to common stock).
- Impact of the Sale of Shares
With the sale of a portion of Hitachi's Elpida shares, Elpida will no longer be considered an equity-method holding of Hitachi. However, the business relationship with Hitachi will remain the same, and we do not expect a change in its Elpida share ownership to affect our business performance.
Information in this news release is current as of the timing of the release, but may be revised later without notice.