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Toshiba gets go-ahead for NAND chip unit sale at angry shareholder meeting
Toshiba Corp shareholders agreed to split off its prized NAND flash memory unit on Thursday, paving the way for a sale to raise at least $9 billion to cover U.S. nuclear unit charges that threaten the conglomerate's future, reports reuters today.
"How can something that was supposed to be a pillar turn into a hole," said the shareholder, asking Tsunakawa about the company's nuclear business.
"Toshiba has become a laughingstock around the world. You have no clue what's going on," shouted another.
Toshiba, which expects to book an annual net loss of 1 trillion yen ($9 billion) for this business year on a writedown at Westinghouse, has said it is selling most or even all of a unit that is the world's second-biggest producer of NAND chips.
There would be 10 potential bidders including Western Digital, Micron, Foxconn and SK Hynix. However also the government-backed Innovation Network Corporation of Japan, and Development Bank of Japan are expected to enter later bidding rounds as part of a consortium.
It’s unclear whether Toshiba will sell most, or even all, of its unit that is world’s second largest producer of NAND memory. The company is in a joint venture together with Western Digital (which acquired the initial partner, Sandisk) called Flash Vision and Toshiba also owns the OCZ brand.
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Hilbert Hagedoorn
Don Vito Corleone
Posts: 42166
Joined: 2000-02-22
Don Vito Corleone
Posts: 42166
Joined: 2000-02-22
#5414418 Posted on: 03/31/2017 09:07 AM
No Sir
No Sir
Kaarme
Senior Member
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Joined: 2013-03-10
Senior Member
Posts: 2628
Joined: 2013-03-10
#5414446 Posted on: 03/31/2017 11:21 AM
I'm not an anti-nuclear person, but it seems like Western (and Western like countries) nuclear business is a dead horse already. I should know as the most pitiful example project has been going on in my home country for well over a decade without going online. It was supposed to be finished years ago and the price almost tripled along the way, making it already one of the most expensive building projects in Europe, which is highly ironic considering Finland's small population. As expected, the thing has spawned billion euro court cases as well.
I wish small modular reactors saved the nuclear industry.
I'm not an anti-nuclear person, but it seems like Western (and Western like countries) nuclear business is a dead horse already. I should know as the most pitiful example project has been going on in my home country for well over a decade without going online. It was supposed to be finished years ago and the price almost tripled along the way, making it already one of the most expensive building projects in Europe, which is highly ironic considering Finland's small population. As expected, the thing has spawned billion euro court cases as well.
I wish small modular reactors saved the nuclear industry.
Humanoid_1
Senior Member
Posts: 960
Joined: 2009-10-14
Senior Member
Posts: 960
Joined: 2009-10-14
#5414540 Posted on: 03/31/2017 02:59 PM
I still have faith in the future of Nuclear, it is so incredibly energy dense.
...Yet we are still using dangerous designs from the 50's which were only meant to be a stop gap for about 15 years or so...
and "burn" one of the rarest elements on the planet at only about 0.5% efficiency while producing tonnes of dangerous nuclear waste LOL
Newer designs (actually also from the 60's, but underfunded and shut down early due to more profitable moves by politicians and their soon to be even richer friends) being redeveloped atm can "burn" their nuclear fuels at over 97% efficiency and produce very little nuclear waste. They can even be fed processed old nuclear waste from past generations.
oh... and they are also a much safer design + cheaper to build.
I guess their Achilles heel was partly their huge fuel efficiency. The people in power owned the Uranium mines and would not sell very much with this type of reactor.
I still have faith in the future of Nuclear, it is so incredibly energy dense.
...Yet we are still using dangerous designs from the 50's which were only meant to be a stop gap for about 15 years or so...
and "burn" one of the rarest elements on the planet at only about 0.5% efficiency while producing tonnes of dangerous nuclear waste LOL
Newer designs (actually also from the 60's, but underfunded and shut down early due to more profitable moves by politicians and their soon to be even richer friends) being redeveloped atm can "burn" their nuclear fuels at over 97% efficiency and produce very little nuclear waste. They can even be fed processed old nuclear waste from past generations.
oh... and they are also a much safer design + cheaper to build.
I guess their Achilles heel was partly their huge fuel efficiency. The people in power owned the Uranium mines and would not sell very much with this type of reactor.
tsunami231
Senior Member
Posts: 12197
Joined: 2003-05-24
Senior Member
Posts: 12197
Joined: 2003-05-24
#5414734 Posted on: 03/31/2017 11:21 PM
they have nuclear business? is the metaphoric or actual statment?
they have nuclear business? is the metaphoric or actual statment?
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Senior Member
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Joined: 2012-07-20
Is this early April 1st?