Published: Fri, April 14, 2017
Finance | By Laverne Griffith

Apple considering multi-billion dollar investment in Toshiba chip unit: NHK

Apple considering multi-billion dollar investment in Toshiba chip unit: NHK

The auction of the prized asset is essential to Toshiba's plans to cover multi-billion writedowns at US nuclear unit Westinghouse that have plunged it into crisis.

Apple was not immediately available to comment. According to most recent reports Apple...

Meanwhile, Toshiba reportedly fears a Foxconn acquisition might be met with skepticism from Japanese and USA governments, leaving Broadcom, SK Hynix and, surprise, surprise, Apple as the leading suitors for the far-reaching chip business.

Toshiba is looking for a major partner in its semiconductor business, rather than an outright sale.

Before the Japanese multinational conglomerate could begin to dream of any sort of a financial rebound, its majority-owned US-based Westinghouse nuclear construction subsidiary filed for Chapter 11 bankruptcy protection after generating a fresh multi-billion-dollar loss. The memory chip business reported a profit of $934 million on sales of $5.8 billion. Toshiba is offering from 50 percent to 100 percent in the lucrative flash memory whose prospects are bright due to explosive demand for the chip to power mobile devices. But a preexisting Western Digital joint venture contract may give the American computer data storage giant first dibs, and significantly reduce the earnings potential of the prospective deal. They have a deal to give the USA company exclusive negotiating rights to overtake any of Toshiba's business.

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The proposal is aimed at allaying the Japanese government's concerns over any transfer of sensitive technology to investors it deems a risk to national security, it said.

Auditors suggest - "It is an unusual move for a Japanese company-and with a warning that the entire company could collapse".

Toshiba's semi-conductor unit is now the world's second largest flash memory chip manufacturer.

Broadcom Ltd - U.S. Chipmaker - Partner with private equity firm Silver Lake Partners LP.

Now, the future will prove who wins the bid and acquire the Toshiba's Jewel - the chip business.

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