Elpida Memory is looking to wholly own its Taiwan-based subsidiary Rexchip Electronics, through acquiring the remaining 36% stake held by Powerchip Technology, according to company president and CEO Yukio Sakamoto.

But Powerchip responded saying Elpida has not talked with it about the acquisition, and therefore the company cannot comment on the issue.

Sakamoto also revealed that Elpida is mulling setting up a production base in China, as part of its measures to counter the appreciation of the Japanese yen. Elpida has entered into discussions with the Chinese authorities, Sakamoto said, adding that the progress will be made available as early as 2012.

Sakamoto has previously unveiled the company's plans to shift some of its in-house production to Rexchip, with the capacity transfer to be carried out in the coming year. Such move is also to combat the strong yen.