Toshiba eyes stake sale in chip business as writedown looms | Reuters


The laptops-to-engineering conglomerate, still recovering from a $1.3 billion accounting scandal two years ago, shocked investors in December by announcing major cost overruns at a U.S. nuclear business it bought in 2015. That could now mean a charge against profit topping $4 billion.

The chips unit generates most of the Japanese firm’s operating profit.

“Toshiba doesn’t have any other options. I have an impression that this deal is their last-ditch measure,” said Yasuo Sakuma, portfolio manager and executive officer at Bayview Asset Management Co.

Source: Toshiba eyes stake sale in chip business as writedown looms: source | Reuters

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