On Friday, Toshiba announced that it is splitting off its memory business into a separate company. Toshiba is seeking funds to offset an imminent multi-billion dollar loss by its US nuclear plant unit. The memory business will be separated from the main company by the end of March, and that includes the SSD business but leaves the image sensor business untouched.
It plans to sell less than 20% of the business, but has yet to decide which assets and liabilities will be split off. According to the Nikkei Asian Review, Toshiba may sell a 20% stake in the memory business for between $1.77 billion and $2.65 billion. The company will hold a shareholder meeting in late March to seek approval for the plan.
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