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Toshiba announces possibility of memory business spinoff

Measures needed to cope with nuclear power unit impairment loss

| Japan

TOKYO -- Toshiba said on Wednesday that it might spin off its memory business, adding that no concrete plans have been decided yet.

The Japanese electronics maker made the comment after The Nikkei reported that the company is considering spinning off semiconductor operations and selling a partial stake to Western Digital to cope with a huge impairment loss in its U.S. nuclear power unit.

Toshiba has designated memory chips and energy-related equipment as the two pillars of its business. The Nikkei reported that Toshiba will likely retain a majority stake in the spun-off unit and keep the new company in group earnings. 

On Wednesday morning in Tokyo, Toshiba's shares rose 13.9 yen, or 4.9%, at one point to 295.6 yen.

(Nikkei)

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