Toshiba Introduces Transaction Bank to Semiconductor Subsidiaries Difficult to Sell to Western Digital

[Global Technology Reporter Wang Huan] According to a report from Japan’s Kyodo News on May 25, Toshiba Corporation, which is in the operating restructuring period, convened a meeting with major trading banks such as Mitsui Sumitomo Bank and Mizuho Bank in Tokyo on the 25th, making it difficult to convert semiconductor companies. The case of "Toshiba Memory" (located in Tokyo) sold to the Western Digital (WD) was explained. A total of four camps participated in the bidding, and the bids were all more than 2 trillion yen (about 133 billion yuan), but Toshiba stated that it would give priority to the Japan-US alliance consisting of industrial innovation agencies.

According to related sources, Toshiba also introduced the direction of finalizing the sale before the end of June.

Regarding the semiconductor subsidiary, WD, which is cooperating with Toshiba and investing in a factory in Yokkaichi, Mie Prefecture, has filed an arbitration application with the International Court of Arbitration for the suspension of the sale. On the 24th of this month, Toshiba President Gang Gangzhi held talks with WD CEO Steve Milligan. Toshiba was allegedly revealed at the meeting that they are continuing to negotiate to find a consensus.

As WD opposed the use of the shares of the semiconductor subsidiary as a guarantee, the main transaction bank's loan quota for Toshiba continued to be unusable, and the meeting focused on countermeasures.

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