Chicago (IL) - Spansion Japan, the Japanese subsidiary of chip maker Spansion, Inc., filed for bankruptcy protection today on debts totaling $809.79 million (74.1 billion yen). This is the biggest bankruptcy filing in Japan's manufacturing sector this year, according to Teikoku Databank.





New Spansion president, John Kispert, said the group aims to keep the subsidiary operating while it restructures.



Spansion was spun off by Advanced Micro Devices (AMD) in late 2005 to create flash memory typically used in mobile phones. A company spokesman said, "Flash memory chips are used in almost all electronics products. Since the financial crisis since last year, the entire production has declined."

See Spansion's press release.