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.