Toshiba Claims Western Digital To Interfere In Its Business

Jun

28

2017

TOKYO ( Reuters) – Japanese company Toshiba filed a lawsuit against its Western Digital business partner on Wednesday, demanding Japanese company 120 billion yen ($ 1.07 billion) in damages, saying Western Digital had interfered with the sale of its flash memory chip division, I have decided to prevent Western Digital employees from outside the Yokkaichi chip factory from accessing information about the joint venture.

The Japanese giant is selling this section, which specializes in the manufacture of smart phone chips and laptops to cover the huge losses suffered by the nuclear section in the United States called Westinghouse Westinghouse.

Toshiba said Western Digital’s offer for the memory chip chip was very low in price, while Western Digital said its offer met the minimum requirement of $ 18 billion.

The Japanese company has so far failed to reach an agreement to sell the preferred buyers, a group of US, South Korean and Japanese investors backed by the Japanese Ministry of Commerce, which is keen to keep the semiconductor technology under local control. Western Digital has opposed Toshiba’s proposed deal.

The company, which is involved in the operation of Toshiba’s main semiconductor plant, is having problems with its Japanese partner. Western Digital has sought a US injunction to prevent any agreement it does not agree. The Japanese company said its US The sale process and bidding offers and in the amount of the amount due when the sale is made.

Western Digital alleges that its business partner is violating joint venture contracts. Toshiba said earlier in the day that it had failed to conclude a deal worth about $ 18 billion to sell chips to a group of Japanese and South Korean investors backed by the state. The closing of the sale is done before the General Assembly meeting on Wednesday.

The electronics giant said this week that its 2016 losses could be higher than previously expected, with the company now predicting a net loss of $ 9 billion for the year to March, compared with its previous estimate of $ 8.4 billion.

The company was previously exposed to an accounting scandal revealed in 2015 that led to the resignation of the CEO and several senior managers, as it was discovered that it inflated its annual profit for the previous seven years by $ 1.2 billion.

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In: A Technology & Gadgets Asked By: [20034 Red Star Level]

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