Ron Burgundy Posted February 15, 2017 Share Posted February 15, 2017 By Taiga Uranaka and Makiko Yamazaki TOKYO (Reuters) - Shares in Toshiba Corp skidded on Wednesday after the conglomerate said it would book a $6.3 billion hit to its U.S. nuclear unit and may sell a majority stake in its prized flash-memory chip unit as it scrambles for cash to stay in business. Facing a March 27 deadline to avoid a delisting, Chief Executive Satoshi Tsunakawa said he would consider selling most, even all, of the chips business - a turnaround from the conglomerate's previous stance that it would sell only about 20 percent. The change of direction has prompted investors to question whether the company would have a long-term future without control of the unit and could well shake up the bevy of suitors interested in a piece of the world's biggest NAND chip producer after Samsung Electronics Co Ltd . View the full article Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.