Toshiba Shareholders Agree to Planned Nand Production Sale

Toshiba’s shareholders have agreed to sell all or part of the nand memory division. The manufacturer wants to sell the branch to compensate for major financial setbacks.

Toshiba believes the branch is worth at least $18 billion, Reuters news agency reported. The major losses under discussion include the Westinghouse division. Toshiba has filed for bankruptcy for its nuclear branch in the United States.

The manufacturer said earlier that it wanted to split off the nand production. It is uncertain whether Toshiba will sell part of its division or whether it will transfer all ownership to a new company. An earlier rumor mentioned Western Digital as a possible candidate. Toshiba and Western Digital already have ties between them, which started after WD acquired Sandisk last year. Sandisk and Toshiba have worked together for years in the production of flash memory. SK Hynix has already been mentioned.