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.