Toshiba to sell stake in its Memory Chip Business

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Toshiba is planning to make a fresh start on selling a stake in its memory chip business, the company have  announced on Tuesday that it could sell most, or all, of its memory chip assets, Jiji news agency said on Wednesday.

Toshiba had previously planned to sell about 20% of its total memory chip assets and had closed the initial round of bids on February 3.  However, the bids received from investment funds and some industrial suitors were lower than expected, Jiji said. The fresh start could mean the expected sale would complete after the end of the financial year next month, thus, Toshiba would not be able to present the gain from selling in this year’s earnings.

Toshiba is the world’s second-biggest NAND chip producer after Samsung Electronics Co Ltd.
Potential buyers for the business include rivals such as SK Hynix Inc, Micron Technology Inc as well as investment fund Bain Capital, according to sources.

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