toshiba soars on reports of memory chip unit bid
Sunday 18 May 2025
Last Updated : GMT 06:49:16
Arab Today, arab today

Toshiba soars on reports of memory chip unit bid

Arab Today, arab today

Arab Today, arab today Toshiba soars on reports of memory chip unit bid

Tokyo - Arab Today

Toshiba stocks surged Friday as Japanese media said around 10 companies and funds, including Apple, are bidding for its memory chip business, a day after shareholders approved the spin-off plan.
The Tokyo-listed firm surged almost 10 percent before ending the day at 241.4 yen, up 5.78 percent.
Japan’s top Nikkei business daily said the first round of bidding had been completed.
US private-equity firm Silver Lake Partners and American chipmaker Broadcom have apparently tendered bids of roughly 2 trillion yen ($17.9 billion), it said.
Yomiuri Shimbun, Japan’s top-selling daily, said about 10 companies, including Apple, made bids for the chip business, citing unnamed sources familiar with the matter.
Toshiba will start negotiating with individual candidates next month, the Nikkei said.
It added that any foreign buyer would need to pass a Japanese government review, given concerns about security around systems already using Toshiba’s memory chips.
A company spokesman declined to comment.
The stories came a day after angry investors lambasted Toshiba executives at a shareholder meeting over its warning that annual losses could balloon to more than $9 billion.
The red ink is largely tied to huge cost overruns and construction delays at its US nuclear power unit Westinghouse Electric, which filed for bankruptcy protection this week.
Still, investors agreed to the sale of the chip business, the jewel in the Japanese giant’s crown. The sale is seen as key to the cash-strapped firm’s turnaround, although there are questions about its future without the business.
Toshiba is the world’s No. 2 supplier of memory chips for smartphones and computers, behind South Korea’s Samsung, and the business accounted for about a quarter of its 5.67 trillion yen in revenue last fiscal year.
“Short-term investors trying to take advantage of price volatility are looking at Toshiba,” said Makoto Sengoku, market analyst at Tokai Tokyo Research Institute (TTRI).
“The semiconductor business has been a driver of its earnings. Without that, can it really revive itself?”

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

toshiba soars on reports of memory chip unit bid toshiba soars on reports of memory chip unit bid

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

toshiba soars on reports of memory chip unit bid toshiba soars on reports of memory chip unit bid

 



GMT 21:31 2017 Wednesday ,25 January

India, UAE ink 14 pacts in areas like defence, security

GMT 19:54 2017 Saturday ,09 September

El Othmani to Present Govt.’s 4-Month Record

GMT 11:37 2016 Thursday ,15 December

Fed raises key interest rate, sees three hikes in 2017

GMT 02:07 2017 Saturday ,02 September

Indonesian police gearing up to hunt down terrorists

GMT 13:40 2017 Friday ,10 March

Bahrain stresses human right guaranteed by law

GMT 10:50 2017 Wednesday ,25 October

UAEU among top five universities in Arab region

GMT 04:02 2018 Thursday ,18 January

China says Iranian oil tanker wreck located

GMT 10:39 2017 Wednesday ,15 March

EU 'will not be intimidated by threats' on Brexit

GMT 09:22 2017 Saturday ,15 July

Help strengthens Somali marines to fight pirates

GMT 14:28 2017 Friday ,24 February

PCRF to host medical mission from Brazil

GMT 15:00 2015 Monday ,07 December

Last Russian tourists returned home from Turkey

GMT 05:40 2017 Sunday ,12 February

FNC to mark 45th anniversary on 12th February

GMT 21:21 2017 Saturday ,18 March

Food Export Council exports hit $2.7bn in 2016

GMT 13:14 2017 Wednesday ,22 February

Artist to hatch chicks after being locked in rock

GMT 09:02 2017 Thursday ,14 September

Iraq readies to retake IS bastion near Syria border

GMT 10:16 2017 Saturday ,23 September

US-made bomb used in fatal strike
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday