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Toshiba making preparations for sale of stake in chip business: sources Jan 20, 2017
 

FILE PHOTO - Workers prepare the new year's eve numerals above a Toshiba sign in Times Square in Manhattan, New York City, U.S.By Kentaro Hamada and Makiko Yamazaki TOKYO (Reuters) - Japan's Toshiba Corp has begun preparations to sell a minority stake in its core chip business, people with knowledge of the matter said, as it urgently seeks funding to avoid being crippled by an upcoming multi-billion dollar writedown. The industrial conglomerate has distributed non-disclosure agreement forms to various funds including private equity firm Silver Lake, said one of the people. Its semiconductor business - the world's second-biggest NAND flash memory producer after Samsung Electronics Co Ltd - is Toshiba's crown jewel, accounting for the bulk of its operating profit.


 
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