Toshiba Announces Plan to Sell Minority Stake In NAND Flash Production Business

This morning Toshiba has announced that they will be spinning off their chip production business as part of a broader plan to sell off a minority stake in the business. With the company’s financial position in poor shape due to other business segment losses and accounting scandals, selling off a stake in the company’s profitable chip production business gives Toshiba the means to raise some much-needed capital. The move comes as the company confirmed last week that they were investigating just such a spin-off.