September 6, 2017 / 5:33 AM / 10 months ago

Toshiba says to build new chip facility in northern Japan

TOKYO (Reuters) - Toshiba Corp said it has decided to build a new semiconductor manufacturing facility in Iwate, northern Japan, even as it seeks to sell its memory chip unit to raise funds.

FILE PHOTO: The logo of Toshiba is seen as a shareholder arrives at Toshiba's extraordinary shareholders meeting in Chiba, Japan March 30, 2017. REUTERS/Toru Hanai/File Photo

It is considering whether its chip joint venture partner SanDisk, owned by Western Digital Corp, will take part in the investment, it said in a statement.

Western Digital offered to drop out of a group bidding for Toshiba’s flash memory chip business after talks stalled, sources familiar with the matter said on Tuesday. Western Digital is instead seeking a stronger position in their joint venture, the sources said.

Reporting by Makiko Yamazaki; Editing by Edwina Gibbs

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