Elpida Memory will receive Y50bn ($523m) in state funding as part of a larger rescue package for the world’s third largest maker of dynamic random access memory, according to Japan’s Ministry of Economy, Trade and Industry on Tuesday.

The Development Bank of Japan will provide Y30bn in new equity, while Taiwan Memory Company — set up by the Taiwanese government to support its own D-Ram industry — is contributing another Y20bn in capital. Elpida is expected to transfer technology to Taiwan’s D-Ram industry. Elpida’s commercial banks are also expected to extend substantial new loans to the company.

The rescue package will allow Elpida to keep investing in its chip fabrication plants and so remain competitive against Samsung and Hynix of South Korea.