Oh no, you're thinking, yet another cookie pop-up. Well, sorry, it's the law. We measure how many people read us, and ensure you see relevant ads, by storing cookies on your device. If you're cool with that, hit “Accept all Cookies”. For more info and to customize your settings, hit “Customize Settings”.

Review and manage your consent

Here's an overview of our use of cookies, similar technologies and how to manage them. You can also change your choices at any time, by hitting the “Your Consent Options” link on the site's footer.

Manage Cookie Preferences
  • These cookies are strictly necessary so that you can navigate the site as normal and use all features. Without these cookies we cannot provide you with the service that you expect.

  • These cookies are used to make advertising messages more relevant to you. They perform functions like preventing the same ad from continuously reappearing, ensuring that ads are properly displayed for advertisers, and in some cases selecting advertisements that are based on your interests.

  • These cookies collect information in aggregate form to help us understand how our websites are being used. They allow us to count visits and traffic sources so that we can measure and improve the performance of our sites. If people say no to these cookies, we do not know how many people have visited and we cannot monitor performance.

See also our Cookie policy and Privacy policy.

This article is more than 1 year old

Memory loss: Toshiba puts chip biz up for sale

Hardware dump will help pay costs from failed energy venture

Toshiba says it will sell off its memory semiconductor business as it looks to recuperate from the write-off of losses to its nuclear power business.

The Japanese electronics giant said on Friday that it wants to flog its flash chips and SSD divisions of its storage and electronic devices solutions company by March 31 of this year. Toshiba will retain the imaging sensors branch.

According to Toshiba's latest quarterly report, the storage and electronic devices division accounted for roughly $6.9bn in net sales.

The sale will be part of an effort to compensate for the expected losses Toshiba will take when it writes off an acquisition deal for construction company CB&I Stone & Webster.

Toshiba's Westinghouse Electric Company subsidiary entered into a deal to acquire the construction company, which specializes in nuclear power projects, in 2015 as part of Toshiba's push into the nuclear power space.

Late last year, word surfaced that the complex deal had fallen through and Toshiba stood to lose billions of dollars. To compensate for that write-off, Toshiba will be forced to shed one of its more valuable assets: the memory chip company.

"Given the possibility of a loss on impairment, Toshiba Group needs to enhance its financial structure, and the company is considering various capital measures," Toshiba said of the decision.

"In this company split, the company is considering an injection of third-party capital as a financial measure."

Toshiba says it hopes to iron out the details of the transaction by late February. ®

 

Similar topics

TIP US OFF

Send us news


Other stories you might like