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Toshiba Memory President Yasuo Naruke, right, shakes hands Friday with Yuji Sugimoto, head of Bain Capital in Japan. Bain leads the consortium set to buy Toshiba Memory.

Toshiba holds out olive branch to Western Digital for chip investment

Memory unit plots some $3bn in annual spending to make up ground lost to Samsung

| South Korea

TOKYO -- Toshiba's flash memory arm plans to pour more than 300 billion yen ($2.68 billion) a year into capital investment to ramp up production amid a shortage -- an effort for which it hopes to enlist partner Western Digital's help, despite a legal row.

Toshiba Memory President Yasuo Naruke discussed the manufacturer's investment plans Friday at a news conference in Yokkaichi, Mie Prefecture, the site of the parent's flagship chip fabrication facilities. Naruke, also an executive officer at Toshiba itself, is the first top official at the Japanese conglomerate to hold a news conference since the Sept. 28 announcement of a deal to sell the memory unit to a Japanese-American-South Korean consortium.

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