Brandedlogodesign SCAM: Toshiba is looking for investors for storage business

Toshiba is looking for investors for storage business

The cracking IT company Toshiba apparently looks for several investors for its storage chip business. In this way the Japanese want to decimate the influence of the new co-owners.

Hardware giant in the crisis: The troubled Japanese electronics group Toshiba wants to bring several investors into the boat in the partial sale of its storage chip division, according to a press release. This would prevent Toshiba, a single new co-owner to take too much influence on the business, reported the Japanese newspaper "Nikkei" on Friday, according to inaugurated persons. The Group wants to repel a share of 19.9 percent of its storage chip business. Semiconductor manufacturers Micron from the USA, SK Hynix from South Korea and Toshiba's US partner Western Digital have already issued bids.

According to the report, the Foxconn Group from Taiwan also reported interest in a shareholding. Toshiba also talks with other potential investors.
Nevertheless, buyer search does not seem easy. "Nikkei" quotes several insiders who estimate the investment face-to-face of Toshiba's conditions as not very attractive. The reason for this was that they were granted little co-right to speak with the small participation.
Toshiba is armed for depreciation billions


The planned partial sale is not voluntary. Toshiba urgently needs money due to problems of its US nuclear power plant builder CB & I Stone & Webster. Due to weak business, the Japanese are likely to be depreciated by billions. According to earlier information from the news agency Bloomberg and the Japanese agency Kyodo these could make up to 700 billion Yen, converted around 5.8 billion euro. How high the sum really is, is to be announced on Tuesday (14 February).

At the end of last year the signs for Toshiba were still quite good. The Group succeeded in pushing ahead with massive reorganisations, once a balance sheet scandal had led to strong losses. A research commission found at the time that the company had systematically generated too high a profit over the years. The balance sheets had to be corrected several times downwards, a total of around 225 billion yen.

In the course of the restructuring, a total of 10,500 employees were dismissed. In addition, eight members of the company's management had to leave the Group, which were decisively involved in the balance sheet. The company's CEO, Hisao Tanaka and his predecessor, Norio Sasaki, were also present.