According to reports, Toshiba announced on the 17th that the sale process of the semiconductor subsidiary "Toshiba Memory" (Tokyo) has passed China's "Anti-Monopoly Law" review.
The report pointed out that all the necessary national approvals for the sale have been obtained, and the sale of the "US-Japan-South Korea consortium", which is mainly sold to the U.S. fund Bain Capital, was confirmed with the amount of 2 trillion yen.
The US-Japan-South Korea consortium have paid for the funds and expect to complete the sale on June 1. China’s review began in December last year, but it has also been affected by Sino-US trade frictions. It was difficult to make progress once.
The U.S.-Japan-South Korea consortium consists of the U.S. IT giants such as Bain Capital, Apple, and the Korean semiconductor giant SK Hynix. Toshiba is also involved, and it is expected to continue to hold approximately 40% of Toshiba's voting rights. Due to the determination of the sale, Toshiba Memory will be able to more aggressively invest in equipment, enhance production equipment, and compete against rival Samsung Electronics of Korea.
