Toshiba Misses Deadline to Find a Buyer for Its Chip Business<br />Instead, the company said it was still weighing offers from three groups of investors: Bain Capital, the American investment fund, which has joined with two Japanese government-backed financial firms; Western Digital, the digital storage company based in the United States; and Foxconn, the contract manufacturer based in Taiwan<br />that makes phones and other devices on behalf of Apple and other global brand names.<br />In June, Toshiba said that it was entering exclusive talks with the Bain group, which also included a Japanese government-controlled investment<br />fund, the Innovation Network Corporation; the Development Bank of Japan, a state-owned bank; and SK Hynix, the South Korean technology company<br />TOKYO — Toshiba, the embattled Japanese conglomerate, said on Thursday<br />that it needed more time to choose an outside investor for its microchip business, extending a period of uncertainty for the company as it seeks a multi-billion-dollar cash infusion to stabilize its finances.<br />Toshiba said in a statement that it had “exercised its best efforts to reach a mutually satisfactory definitive agreement” but<br />that negotiations had “not reached the point” at which the board was able to make a decision.<br />It was the second time that Toshiba missed a self-imposed deadline to complete a deal for the<br />business, which analysts say could be worth upward of 2 trillion yen, or around $18 billion.
