Toshiba Memory-Chip Unit Is Alluring Target But Not an Easy Sell
- Japan facing end of era as leading maker of semiconductors
- Rivals may want control of Toshiba that will be hard to give
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Toshiba Corp., seeking to make up for a huge writedown in its nuclear-equipment unit, finally took the drastic step of putting its crown jewel -- its chip business -- up for sale. Finding a buyer might prove to be even more difficult.
The Tokyo-based conglomerate had been entertaining offers for a minor stake in the flash-memory operations, until it booked a $6.3 billion writedown in its nuclear unit this week. President Satoshi Tsunakawa said he’s now open to selling a majority share or even the entire division to repair the company’s balance sheet. The search for a buyer is likely to last beyond Toshiba’s earlier March 31 deadline for the deal, a person familiar with the matter said.