Toshiba will sell part of its chip Division

TOKYO-Toshiba''s Board on Friday approved plans to make your memory chip business into a separate company and seek foreign investment to it, as the company seeks to mitigate the impact of a drop of several billion dollars because of its nuclear business in the US. The move is just one of many difficult choices that the Japanese conglomerate must do, given that resources should cover only part of the loss arising from a nuclear plant construction business recently purchased in the USA-a cipher that the local media put in 680 billion yen (6 billion dollars). The business of Toshiba''s memory chips-the world''s largest producer of NAND flash memory after Samsung Electronics-is the jewel of the Crown, responsible for most of its operating profit. Toshiba is looking to sell about of 20% by more than 200 billion yen and potential investors include private equity firms, the business partner Western Digital and the Japan Development Bank, which is supported by the Government, said sources. The company is rushing to complete the sale by the end of the financial year in March.