Toshiba in trouble, will sell much of its nand flash business

Toshiba is not going through its best moment, the company has serious financial problems and one of the first measures taken was the sale of 20% of its NAND Flash memory business to Western Digital (WD), however, the situation would be worse than expected and the company will be forced to sell more than half of its most profitable business.

Toshiba about to sell 60% of its NAND business

After the sale of 20% of its NAND business to WD, the Japanese would be trying to close another deal for the sale of another 60% of its NAND business, which would mean keeping only 20%. NAND production is Toshiba's most important business since it allows it to maintain total verticality in the development of its products, that is, it has no dependence on third parties so it can be much more competitive in price and have higher margins of Benefits.

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Toshiba's entire problem stemmed from an accounting error in the company's accounts, a "small error" of € 1, 706 million that was supposed to be profit but turned out not to exist at all. This error led to a 60 million euro fine and heavy losses on the Tokyo Stock Exchange. This situation has led Toshiba to an extreme need for capital, so it has no choice but to sell its most important and vital business for the company, bread for today and hunger for tomorrow.

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Tsinghua Unigroup, one of the branches of Tsinghua State University that is controlled by the Chinese state, is the strongest-sounding investor for Toshiba's NAND business. If the agreement goes ahead, it would avoid a long antitrust legal process that would occur in the event of a greater investment in its other partner, Western Digital.

Source: techpowerup