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Legal row over chip unit risks derailing Toshiba's financing

Banks sock away nearly $2bn against losses on loans to Japanese group

| Japan

TOKYO -- Should Western Digital's request to block the planned sale of Toshiba's memory unit succeed, the eventual turnaround on which lending to the Japanese conglomerate rests would be thrown into question.

Top officials at Toshiba's main banks, which released fiscal 2016 earnings Monday, expressed concern about the dispute. "We want the two companies to work to resolve the problem and [Toshiba] to firm up its financial foundation by selling" Toshiba Memory shares, said Sumitomo Mitsui Financial Group President Takeshi Kunibe.

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