Toshiba out of race to turn around Elpida: papers

TOKYO Wed Apr 4, 2012 7:42pm EDT

A man walks past Toshiba Corp's Regza liquid-crystal display (LCD) televisions at an electronic store in Tokyo January 31, 2012. REUTERS/Toru Hanai

A man walks past Toshiba Corp's Regza liquid-crystal display (LCD) televisions at an electronic store in Tokyo January 31, 2012.

Credit: Reuters/Toru Hanai

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TOKYO (Reuters) - Toshiba Corp is out of the running among companies bidding to support Elpida Memory's turnaround, likely leaving three foreign companies including SK hynix and Micron Technology in the race, media reported on Thursday.

Japan's Asahi and Mainichi newspapers said Toshiba, seen as the preferred partner for the bankrupt memory chipmaker by the government, was no longer bidding. The newspapers did not give a reason, or say where they got their information.

(Reporting by Nobuhiro Kubo; Editing by Edwina Gibbs)

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