First News
Volume:7, Number:40
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Business & Finance 2
THIS WEEK

Google, Amazon, Eye Toshiba’s Chip Unit

Google and Amazon joined a list of potential buyers eying Toshiba’s lucrative memory chip business as the Japanese conglomerate seeks bidders to cover huge losses, a newspaper said today. Toshiba has reportedly completed the first round of bidding for its prized memory chip business, seen as key for the cashstrapped company to turn itself around. Some 10 foreign companies and funds, including Google and Amazon, tendered bids, the mass-circulation Yomiuri Shimbun said, quoting unnamed sources. The two US tech giants are expected to use Toshiba’s memory chips for their cloud services, the daily said. Taiwan’s Hon Hai, which acquired Japanese electronics maker Sharp last year, has apparently bid more than USD18 billion, the daily said. Toshiba shares jumped more than five percent on March 31 after local media reported that bidders included Apple, US private-equity firm Silver Lake Partners, and American chipmaker Broadcom. Toshiba is expected to negotiate with individual candidates this month.

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