Toshiba's partner-swapping saga enters new round

Tokyo

THE seemingly never ending saga of Japanese electronics giant Toshiba and its attempts to stave off bankruptcy - a story that mirrors major past problems in the Japanese electrical and electronics industry - is set to enter yet another chapter in the coming days.

Toshiba, a world-renowned personal computers to nuclear reactors giant that has come close to bankruptcy over its involvement in the US-based Westinghouse nuclear power group, is reportedly on the brink of signing a bailout deal to sell a large stake in its memory chip business. The Tokyo-headquartered Toshiba is expected to announce that a Japan-American group led by Western Digital Corporation has been selected as preferred bidder for its memory chip unit, according to reports by Kyodo news agency which said the deal could be signed as early as this week.