Toshiba and Western Digital have been involved in a legal dispute over the sale of Toshiba's semiconductor business. However, recent reports suggest that both companies may have reached a preliminary agreement to resolve their differences regarding the chip division. Despite these rumors, Western Digital has not officially confirmed the news.
An insider revealed that the Toshiba Group's board has approved a framework for a settlement. Both parties are aiming to finalize an agreement by next week. According to the report, Toshiba is offering Western Digital the opportunity to abandon its arbitration claims in exchange for investment in new advanced flash memory production lines. A Toshiba spokesperson stated that the company is open to reconciliation but declined to provide further details.
At the end of October, Toshiba’s shareholders formally approved the sale of its flash memory subsidiary to a consortium led by Bain Capital for approximately ¥2 trillion (around $17.5 billion). This move was part of Toshiba’s strategy to recover from significant losses in its nuclear power business and avoid potential delisting from the Tokyo Stock Exchange in March 2024.
Prior to the shareholder meeting, on September 28, Toshiba announced that it had agreed to sell its storage chip business to a group of international investors, including Apple, Dell, Seagate, Kingston, and South Korean chipmaker Hynix. The sale is expected to help Toshiba stabilize its financial situation and prevent further complications in the coming months.
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