Toshiba puts prized chips unit up for sale to salvage business
Tokyo
AFTER a chaotic day of earnings, it has become clearer that Toshiba Corp may soon end up a shadow of its former self.
Buried in company presentation materials on Tuesday was a note that the Tokyo-based conglomerate is considering selling a majority stake in its memory chip business, a reversal of a previous plan to limit the sale to 20 per cent. Then president Satoshi Tsunakawa took that a step further, saying that a sale of the entire unit is now possible.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Billionaire Geiger is said to near US$7 billion L’Occitane buyout
HCA beats first-quarter profit estimates on higher patient admissions
US FDA approves Pfizer’s gene therapy for rare bleeding disorder
EU toughens rules on Chinese fashion retailer Shein
Best World under fire from shareholders at AGM over dividends, director salaries
‘Extreme’ climate blamed for world’s worst wine harvest in 62 years