Japan’s Toshiba plans to sell part of its chip business as it aims to recover from a $1.3 billion accounting scandal, three people familiar with the matter told Reuters on Saturday.
The electronics conglomerate has started accepting bids, with early interest shown by the Development Bank of Japan Inc, said the sources, who declined to be identified because they are not authorized to talk to the media.
The state-owned bank has already invested in Seiko Holdings Corp’s semiconductor operations.
Following the accounting scandal, Toshiba has been focusing on nuclear and other energy operations, as well as its storage business, which centers on NAND flash memory chips used in smart phones.
