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  © Reuters
Toshiba in turmoil

Japan looks to mobilize public money for Toshiba turnaround

State-backed lender eyes stake in chip unit to protect tech

| Japan

TOKYO -- The Japanese government is weighing options for using state financing arms to support Toshiba's plan to spin off its memory chip business amid calls to keep the company's technology out of foreign hands.

Toshiba plans to sell off at least half of Toshiba Memory, for which the first round of bidding is slated to end March 29. About 10 companies have expressed interest including U.S. hard drive maker Western Digital, which works with Toshiba on NAND flash memory production, as well as rivals from mainland China, South Korea and Taiwan.

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