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Toshiba to sell part of its memory business

Toshiba BG1 SSD with 3D NAND, Toshiba to sell part of its memory business
Toshiba BG1 SSD
Due to the cost overruns expected to reach several billion dollars incurred by its US nuclear business, the Japanese company is spinning off part of its flash memory division and selling a stake in the resulting business.
Codrut Nistor,
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Toshiba is not doing great and has decided to separate its memory business from the main company by the end of March. The split includes the SSD business but leaves the image sensor business untouched. The reason behind this move is the need to cover the several-billion hole made by the company's US nuclear business.

According to a report by Reuters quoted by ZDNet, "The company has yet to decide which assets and liabilities will be split off, though it plans to sell less than 20 percent of the business." Toshiba's NAND flash memory business is world's second largest, making up most of the company's operating profit.

The plan has not been approved yet, since the company has to receive approval for it during a shareholder meeting scheduled for late March. Reuters has also unveiled that the Westinghouse division, which is responsible for the troubled nuclear projects that caused the major financial losses mentioned earlier, will come under direct CEO supervision.  

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Codrut Nistor
Codrut Nistor - Senior Tech Writer - 5492 articles published on Notebookcheck since 2013
In my early school days, I hated writing and having to make up stories. A decade later, I started to enjoy it. Since then, I published a few offline articles and then I moved to the online space, where I contributed to major websites that are still present online as of 2021 such as Softpedia, Brothersoft, Download3000, but I also wrote for multiple blogs that have disappeared over the years. I've been riding with the Notebookcheck crew since 2013 and I am not planning to leave it anytime soon. In love with good mechanical keyboards, vinyl and tape sound, but also smartphones, streaming services, and digital art.
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Codrut Nistor, 2017-01-28 (Update: 2017-01-28)