Toshiba mulls of spinning off its semi-conductor business

Anyone want to pay for a load of old Tosh?

The Japanese tech giant renowned for its creative accounting is thinking of spinning off its semiconductor business and selling a partial stake in the unit to Western Digital.

According to the Nikkei financial daily Toshiba wants to flog a 20 per cent interest in the unit for about $ 1.77 billion-$ 2.66 billion while retaining a majority stake.

Other than Western Digital, U.S. investment funds are showing interest in Toshiba’s semiconductor business. Of course, it is all rumour and speculation as Toshiba and Western Digital are not saying anything publicly.

If the Nikkei is correct, the new chip business company will be created as early as the first half of this year, the Japanese daily reported.

Toshiba still recovering from a $ 1.3 billion accounting scandal in 2015, but had net sales of 1.58 trillion yen from its semiconductor business for the fiscal year ending March 31, 2016.