Reuters6 months ago
Toshiba Corp has no immediate plans to sell its 40.2 percent stake in Toshiba Memory Corp, its chief executive told Reuters, as the world's No. 2 producer of NAND flash memory chips prepares to go public within the next three years. Toshiba's stake is seen by some analysts as a concern at a time when overcapacity in NAND memory chips, used in smartphones and data storage servers, has pressured prices and forced companies to give a dull near-term outlook. The stake allows Toshiba to account for its former unit in its earnings, without having to further invest in it, CEO Nobuaki Kurumatani said in an interview.