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Toshiba Seeks $8.8 Billion For Chip Unit Stake As Banks Fret Over Risks

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Japan’s Toshiba Corp (6502. T) wants to raise at least 1 trillion yen ($8.8 billion) by selling most of its flash memory chip business, seeking to create a buffer for any fresh financial problems, a source with direct knowledge of the matter said. The beleaguered conglomerate was pressured to abandon an initial plan to sell … Read more

Toshiba To Sell Part of Chip Business, Puts Overseas Nuclear Ops Under Review

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Toshiba Corp (6502. T) said it will sell a minority stake in its memory chip business as it urgently seeks funds to offset an imminent multi-billion dollar writedown, adding that its overseas nuclear division – the cause of its woes – was now under review. The drastic measures are set to be just some of … Read more