Toshiba Corp. said Monday it has developed a new 1-megabit static random access memory chip, which it claimed is the world's fastest of its kind.

The Tokyo-based company said the new chip, with an access time of 15 nanoseconds, is more than 25 percent faster than any other 1-megabit SRAM.A nanosecond is one billionth of a second.

Toshiba said the new device integrates some 6.3 million elements, such as transistors and resisters, on a molecular base using the company's microlithography technology.

Besides its fast access time, the new chip can process 16 bits of information at the same time, the company said.

Compared with other commercially available 1-megabit SRAMs, Toshiba's 16-bit structure chip more than doubles the amount of data that can be exchanged with the central processing unit in a given time, while reducing the number of chips comprising the cache memory, the company said.

The cache memory, positioned between the central processing unit and the main memory of a computer system, temporarily stores data or instructions retrived from the main memory.