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Tokyo, Japan -- Morrison & Foerster represented Intel Capital Corp. -- the venture capital arm of Intel Corp., the world's largest semiconductor chip maker -- in connection with its investment of US$125 million in Japan's Elpida Memory Inc. Elpida Memory, established in 1999 as a 50/50 joint venture of NEC Corp. and Hitachi Ltd., and one of the world's largest manufacturers of Dynamic Random Access Memory (DRAM).

Elpida plans to use the proceeds from Intel's investment to boost production at is DRAM wafer fabrication plant in Hiroshima, Japan. The closing of the financing is anticipated to occur later this year in conjunction with the closing of additional financing Elpida intends to raise from third parties.

Morrison & Foerster's transaction team was headed by Chuck Comey, managing partner of MoFo's Shanghai office. Saori Nakamura, a partner in MoFo's Tokyo office, advised on Japanese legal matters relating to the transaction. MoFo Tokyo associates Ben Hughes, Yuko Yokoi, Shozo Iwasaki and Doug Perkins assisted on the matter.