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Toshiba, whose facility in the Japanese city of Kawasaki is seen here, has begun taking bids on its semiconductor business.   © Reuters
Business

Toshiba opens bidding on semiconductor unit

Japanese company's restructuring may attract US, South Korean, Taiwanese rivals

| South Korea

TOKYO -- Toshiba has begun the bidding process for its memory chip business, The Nikkei learned Thursday, as the Japanese industrial giant struggles to get back on its feet following a massive loss at its U.S. nuclear operations.

Toshiba will take proposals from companies and investment funds through March 29 covering their desired ownership stake and payment offer, among other terms. Depending on the bids, Toshiba could sell up to 100% of the chip unit, in which case it could reap a profit of more than 1 trillion yen ($8.7 billion) from the sale.

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