Toshiba Memory Corporation Answers to Press Reports

Multiple press reports on April 22 and April 23 have made statements on Toshiba Corp., including that Toshiba eyes cancellation of the chip unit sale if it is not approved by China’s anti-monopoly regulator; that Toshiba is considering canceling the sale of Toshiba Memory Corporation; and that if approval from China’s anti-monopoly regulator is not received by the end of May, the parties to the deal will consider revising certain of the conditions and resubmit the application to the Chinese authority.

As announced on March 30, 2018 in “Update on the Signing of a Share Purchase Agreement for the Sale of Toshiba Memory Corporation,” Toshiba still intends to close the memory business transaction as soon as possible, and has not decided any concrete policy for the alternative, including termination of the transaction under certain circumstances.

There was also a report stating that the due date of the final decision by China’s antitrust authority is May 28, 2018. This date was not announced by Toshiba.

Read also:
Update on Signing of Share Purchase Agreement for Sale of Toshiba Memory Corporation
Closing of transaction now anticipated in April 2018 or thereafter
2018.04.02 | Press Release
Sale of Toshiba Memory Uncertain
Failing to gain approval from Chinese anti-trust authorities
2018.03.28 | In Brief