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Markets 20 Sep 2017 | 10:29 PM

Toshiba to sell chip unit to Bain Capital-led group for US$18bil

TOKYO: Japan's Toshiba Corp agreed on Wednesday to sell its prized semiconductor business to a group led by U.S. private equity firm Bain Capital LP, a key step in keeping the struggling Japanese conglomerate listed on the Tokyo exchange

Business 23 Jan 2017 | 12:00 AM

Toshiba needs chip investors

TOKYO: With mounting writedowns from its nuclear business, Japan’s Toshiba Corp is looking to sell part of its core semiconductors business, a world No. 2 in the flash memory chips used in smartphones.

Business 02 Dec 2017 | 12:00 AM

Toshiba close to settling dispute with Western Digital

SAN FRANCISCO: Toshiba Corp and Western Digital Corp are close to settling their legal dispute under an agreement that the US company will drop efforts to block Toshiba’s US$18bil sale of its flash-memory business in exchange for the extension of their joint venture agreements, according to people familiar with the matter.

Markets 12 Jun 2017 | 12:00 AM

Western Digital to raise Toshiba chip offer in last-ditch effort

TOKYO: Western Digital Corp plans to raise its offer for Toshiba Corp’s prized semiconductor unit to US$18bil or more, a person familiar with the matter said, in a last-ditch effort to clinch a deal both companies consider vital.

Business 30 Dec 2016 | 12:00 AM

Toshiba 2016 gains wiped out

TOKYO: Toshiba Corp’s impending multi-billion-dollar writedown has triggered one of the worst-ever share declines for a major Japanese company, with ratings downgrades and investor pessimism erasing almost all of its 87% rally this year

Technology 10 May 2017 | 12:47 AM

Toshiba ups ante in chip unit sale with attack on Western Digital

TOKYO: Toshiba Corp has told Western Digital Corp not to interfere in the sale of its prized chip unit, rejecting claims it has breached a joint venture contract and threatening legal action.

Technology 11 Jul 2017 | 11:01 PM

Western Digital gets U.S. court order to access Toshiba databases, chip samples

NEW YORK: Western Digital Corp won a temporary U.S. court order on Tuesday saying that Toshiba Corp must allow Western Digital's employees to access databases and chip samples as part of a joint venture with Toshiba around flash memory chip plants in Japan.

Corporate News 28 Mar 2017 | 12:39 AM

Toshiba wants Westinghouse to file for bankruptcy as early as Tuesday

TOKYO: Toshiba Corp wants its U.S nuclear unit to file for Chapter 11 protection from creditors as early as Tuesday, according to a source with direct knowledge of the matter, seeking a quick ringfencing of losses before the Japanese parent's financial year ends.

Business 13 Dec 2017 | 12:00 AM

Toshiba and Western Digital settle spat over chip business sale

TOKYO: Toshiba Corp and Western Digital Corp have agreed in principle to settle their legal dispute over the US$18bil sale of Toshiba’s flash-memory business with a formal announcement expected within the next 24 hours, according to sources.

Business 27 Apr 2016 | 12:00 AM

Toshiba books US$6.2bil loss after Westinghouse writedown

TOKYO: Toshiba Corp posted a wider-than-forecast operating loss after the troubled electronics conglomerate wrote down the value of its Westinghouse power unit.