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See the best of Reuters photography. See more | Photo caption Raging wildfires Raging fires strike Colorado and Utah. Slideshow Health in America An essay of photos taken by Reuters photographers during assignments on health care. Slideshow Elpida creditors agree to forgive 70 percent of debts: Nikkei Tweet Share this Email Print Related News Global growth fears weigh on Japan's Nikkei Fri, Jun 22 2012 Nikkei ends at five-week high, softer yen supports Thu, Jun 21 2012 Weak flash drive prices push down Micron margins Wed, Jun 20 2012 Renesas shareholders agree to $633 million support: sources Wed, Jun 20 2012 Japan Airlines takes step towards $8 billion IPO, re-listing: sources Wed, Jun 20 2012 Related Topics Tech » TOKYO | Thu Jun 28, 2012 11:31pm EDT TOKYO (Reuters) - Creditors of failed Japanese chipmaker Elpida Memory Inc (ELPDF.PK) have agreed to forgive 70 percent of 420 billion yen ($5.3 billion) of debts, the Nikkei business daily reported, without saying where it got the information from. Elpida, the country's only maker of Dynamic Random Access Memory chips, filed for bankruptcy protection in February with more than 400 billion yen of liabilities. The company, which also produces chips used in smartphones and tablets, has been in exclusive talks with Micron Technology (MU.O), which is seeking to buy the Japanese chipmaker. Micron has agreed to pay a total of 200 billion yen to acquire Elpida, of which as much as 140 billion yen will be used to repay debt, the Nikkei said. Elpida will submit its restructuring plan to the Tokyo district court by August 21, according to the report. ($1 = 79.3100 Japanese yen) (Reporting by Junko Fujita; Editing by Ryan Woo) Tech Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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