NEC announced that they have developed the world's first STT-MRAM with current-induced domain wall motion using perpendicular magnetic anisotropy material. Perpendicular magnetic anisotropy enables a cell to carry out the current-induced domain wall motion writing method using spin torque at a low current, which leads to easy scaling down of cell size and creates suitable conditions for next generation system LSI.

The newly developed current-induced domain wall motion writing method, using spin torque and perpendicular magnetization material, is capable of reducing current while writing for a scaled down cell beyond the 55 nanometer process.

NEC says they will continue MRAM development. Japan's NEDO is partially funding this research.

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NEC Develops Scalable High-Speed MRAM Technology Suitable for Sy

http://www.nec.co.jp/press/en/0906/1705.html
Please find above press release!