The idea is to come up with a way of giving well-funded South Korean rivals a black eye and stop getting kicked around the school play ground.
Elpida is Japan’s last remaining player in the dynamic random-access memory (DRAM) market and it is facing a debt repayment crunch in late March and early April.
The Yomiuri report said Elpida, Micron and Nanya planned to begin due diligence soon and that Elpida may seek an investment of as much as $1.3 billion from the Innovation Network Corp of Japan, a public-private partnership that supports technology companies.
Elpida President Yukio Sakamoto made an unscheduled trip to the United States last week, returning to Japan on Thursday but so far there has been no word of progress on a possible Micron deal.
The DRAM market has been hit by slumping prices in a weak economy and as consumers switch to tablets that use flash memory instead of DRAM chips.