Toshiba Corp said on Friday it had not entered into talks with any company to sell its personal computer business
Toshiba Digital Solutions and Tech Mahindra on Monday joined hands to help manufacturers adopt integrated smart factory solutions across production lines.
The Tokyo-based company revised its forecast from an earlier estimate of 230 billion in net income, according to a statement.
The heads of Toshiba’s memory chip business and Bain Capital, the investment fund buying it, said Friday they hope to close the deal by March despite persisting opposition from Toshiba’s US joint venture partner Western Digital.
Yuji Sugimoto, the Japan head of Bain Capital, said the 2 trillion yen ($18 billion) deal Toshiba agreed to last month with a consortium led by Bain will go ahead despite Western Digital’s efforts to stop it through litigation.
South Korean chipmaker SK Hynix Inc said Wednesday that it will invest 395 billion yen ($3.5 billion) toward the purchase of Toshiba Corp’s memory chip unit by a group of investors.
Sources have said that the Bain group also included Apple, Dell, memory product maker Kingston and data storage firm Seagate, and the offer was worth 2.4 trillion yen ($22 billion), including a 200 billion yen investment in infrastructure.
In the latest move, Toshiba said it entered a memorandum of understanding with Bain Capital Private Equity, which leads the consortium that also includes South Korea’s SK Hynix, and hoped to enter a final decision by the end of this month.
Toshiba Corp., whose sale of its chip unit is being challenged in court by manufacturing partner Western Digital Corp., agreed to hold off closing the deal until a hearing on July 28. Toshiba will proceed with negotiations and contract signing in the meantime, the company said in a statement.
Toshiba Corp. has told partner Western Digital Corp. to stop interfering in plans to sell its memory chip business
Toshiba Corp. temporarily canceled all meetings and decisions related to the sale of its memory chip business to address concerns raised by an industry partner.
Apple is actively looking at options for helping the troubled Japanese company by investing in its semiconductor unit, which has been put up for sale.
Toshiba and Japanese government want to sell the company’s semiconductor business within the country but foreign bidders are more determined and aggressive in the auction to acquire the business.
Google and Amazon joined a list of potential buyers eyeing Toshiba’s lucrative memory chip business as the company seeks bidders to cover huge losses.
Toshiba Corp will sell its image sensor business to Sony Corp for around 20 billion yen ($164.68 million)