Toshiba Reports on Sale of Memory-Chip Business

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Toshiba Corporation of Tokyo, Japan, reported today that it’s received all required anti-trust approvals for the $18 billion sale of Toshiba Memory Corporation. Back in September 2017, Toshiba had reported that it was selling its memory-chip business to a consortium led by private-equity firm Bain Capital Private Equity.

Toshiba expects to complete the sale on June 1, 2018.

The company noted that its forecast for its fiscal year ending in March 2019 assumes the completion of the sale in the first quarter of the fiscal year.

Toshiba Memory Corporation is the world’s number-two producer of NAND memory chips. Toshiba put the business up for sale last year after incurring losses from its Westinghouse nuclear-power business.

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