Hitachi Ltd. has sold its entire 4.7 percent stake in Elpida Memory Inc., whose stock will be delisted in less than a month after it filed for bankruptcy last week, spokesman Yuichi Izumisawa said Tuesday.
Hitachi finished dumping the last of its 12.8 million shares in Tokyo-based Elpida on Monday, Izumisawa said. Hitachi, the largest shareholder in the chip-maker according to data compiled by Bloomberg, held the stake for its retirement benefits trust, according to a regulatory filing.
Elpida lost money for five straight quarters and sought protection from creditors at the Tokyo District Court on Feb. 27 with liabilities of ¥448 billion.