Tomoaki Shoji, EETimes
1/27/2017 05:41 PM EST
TOKYO – At a press conference here Friday(Jan. 27), Toshiba Corp. formally announced that it is in the market to sell a chunk — less than 20 percent — of its memory chip business.
Chief Executive Satoshi Tsunakawa explained why the sale is imperative. “In order to foster steady growth in the memory chip business — which is our key focus — we must make large-scale capital investments," he said. "To pull that off, we must complete the sale by the end of the financial year in March so that we can offset mounting losses in our nuclear business.”
Last November, Toshiba announced plans to expand its 3D flash memory production capacity by building new facility at Yokkaichi. Tsunakawa confirmed, “We will proceed with building the new fab as planned.”