Toshiba Memory Unit Sold

During Toshiba’s board meeting on September 20th, the Company decided to sell its Memory Unit to a Group of company led by Bain Capital, which will hold 49.9% share of Toshiba Memory Unit, while Toshiba will keep 40%, and other companies and banks from Japan will hold 10.1%. In order to evade resistance from anti-monoply authorities, SK Hynix will get no more than 15% of the voting rights.

Foxconn Preparing Offer for Toshiba Chips

Spetember 7th, Foxconn speakersman Louis Woo told the Press that the Company’s offer to acquire Toshiba Chips has been receiving support from Apple, SoftBank and Sharp. Although the details of the offer remains unknown, according to informed sources, Foxconn and its partners are to offer USD18.4 billion for the deal, higher than the price offered by the group formed by Western Digital, Bain Capital and SK Hynix.

Toshiba Huge Loss Lead to Uncertainty

Toshiba released first 3 quarter Results for the period ended Mar 31, 2017. The Company sustained a net loss of USD4.9 billion. As Toshiba estimates a net loss of USD9.1 billion in US, this Company with 142 year of history fot the first time expressed that it is not certain for future operation, but is will not apply for bankruptcy.