Toshiba issued a statement this morning, Western Digital and Toshiba, Toshiba Memory (Toshiba Memory) reached a settlement, all three parties agreed to sell Toshiba memory to Bain Capital based United Group. Toshiba memory for sale, Toshiba and Western Digital both Will do everything to protect each other's assets, the responsibility of confidential information, the stock market in the future, will also jointly bring together the development of Toshiba memory.
The reconciliation between the two parties also mentioned that cooperation will be strengthened in the future, and in addition to the Yokkaichi factory, Western Digital will also participate in Toshiba's Northwestern factory construction plan in Kitakami, Iwate, Japan, and both sides have also decided to extend the covenants of several joint ventures in the flash memory business, Respectively, extended to between 2027 to 2029.
Western Digital previously failed to acquire Toshiba Semiconductor business, has to the International Arbitration Court, the United States court proceedings, requiring the cessation of the sale case, both parties to the court for more than six months to reach a settlement is the key to both parties intend to continue cooperation Yokkaichi factory.
According to the report, Toshiba decided to sell its semiconductor business for funding due to a serious loss in the U.S. nuclear power industry investment project and into a state of insolvency and failed to resolve its insolvency by the end of March next year, thus deciding to sell the semiconductor business. Between the legal battle, Toshiba memory sales case will be the most important topic remaining antitrust laws review of all countries. Toshiba to prevent semiconductor sales less than, did not cancel the debt, has recently completed a 600 billion yen capital increase case.