Consortium buying Toshiba's memory business promises growth

phys.org | 6/4/2018 | Staff
Night987 (Posted by) Level 3
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The buyers of Toshiba Corp.'s memory device operations are promising to invest in technology development and manufacturing facilities to stay competitive, although they stopped short of giving a specific monetary amount or naming a new factory site.

The 2 trillion yen ($18 billion) deal for the consortium led by Bain Capital Private Equity to acquire Toshiba Memory closed June 1 after clearing anti-trust regulatory approval.

Yuji - Sugimoto - Bain - Reporters - Monday

Yuji Sugimoto of Bain told reporters Monday the company may change its name to enhance the brand's image and is aiming for an initial public offering on the Tokyo Stock Exchange within a few years.

Sugimoto said he was also eyeing mergers and acquisitions to expand the company's business. He said talks have started with Innovation Network Corp. of Japan, a government investment fund, and the Development Bank of Japan on potential new investments, but nothing has been decided.

Interests - Stake - Toshiba - Memory - Entity

Japanese interests control a 50.1 percent stake in the Toshiba memory entity, although investors include SK Hynix of South Korea and American companies like Apple and Dell.

Their potential participation is being scrutinized amid fears the flash memory technology developed by Toshiba could be lost to overseas interests. In particular, Samsung Electronics Co. of South Korea is...
(Excerpt) Read more at: phys.org
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