Japan's Toshiba Corp plans to sell part of its chip business as it aims to recover from a $1.3 billion accounting scandal, three people familiar with the matter told Reuters on Saturday.
The electronics conglomerate has started accepting bids, with early interest shown by the Development Bank of Japan Inc, said the sources, who declined to be identified because they are not authorized to talk to the media.
A Toshiba spokesman told Reuters the company hasn't made a decision yet on the sale of its chip operations, while a spokeswoman at the Development Bank of Japan declined to comment.
Following the accounting scandal, Toshiba has been focusing on nuclear and other energy operations, as well as its storage business, which centers on NAND flash memory chips used in smart phones.
The Tokyo-based company, which is selling off non-core chip operations, plans to invest heavily in its flash memory production capacity in Japan to better compete with South Korea's Samsung Electronics Co Ltd.
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