Waiting for the approval of Chinese regulatory authorities | Toshiba chip sales transaction completed by June

According to Reuters, Beijing Times reported on March 9, Toshiba’s US$18 billion storage chip business sales transaction is currently awaiting approval from China’s regulatory authorities. Toshiba expects that if this transaction cannot be completed before the end of March according to an agreed deadline. Completed, completed by June at the latest.

Yasuo Naruke, head of Toshiba's chip division, told reporters on Friday: 'We have been making every effort to complete the transaction in March. Even if the transaction cannot be completed this month, it will be in April, May or 6 Finished sometime in the month.'

Toshiba is the world’s second-largest maker of NAND flash memory chips and agreed last year to sell the semiconductor business to a consortium led by American private equity firm Bain Capital to fill the financial hole left by the bankruptcy of US nuclear electronics companies.

However, it is generally believed that it is unlikely that Toshiba will obtain the necessary regulatory approval before the end of fiscal year 2017 (up to March) because the review by Chinese regulators generally takes at least six months. In light of Toshiba’s overseas acquisition at the end of last year. Investors' capital injection, so Toshiba is not as eager to complete the transaction as before.

Sources said that if this transaction cannot be completed in March, Toshiba can choose to withdraw from the transaction. Some Toshiba activist shareholders oppose the deal, arguing that the infusion of new capital makes it unnecessary for Toshiba to sell the chip business. Because of the inability to promote social infrastructure and other core The growth of the business, the flash memory chip business has been the most profit source of Toshiba.