INCJ looking at Toshiba chip unit auctionApril 18, 2017 - 12:44 AMT PanARMENIAN.Net - The state-backed fund Innovation Network Corp of Japan is looking at the auction of Toshiba Corp's chip unit but did not participate in first-round bidding, INCJ Chairman Toshiyuki Shiga said on Tuesday, April 18, according to Reuters. Sources familiar with the matter have told Reuters INCJ may invest in the business as a minority partner - a move that would help the government prevent a sale to bidders it deems risky to national security. "Given the size of the deal, I cannot say we won't have anything to do with it," Shiga told reporters, adding that INCJ has set up a team to look at publicly available information regarding the deal. Shiga said, however, that INCJ is not conducting due diligence and that it would be unable to bid by itself. The auction of Toshiba's prized chips asset is essential to the company's plans to cover multi-billion dollar writedowns at its U.S. nuclear unit Westinghouse. Toshiba has narrowed the field of bidders for its chip unit to four suitors, sources have said: U.S. chipmaker Broadcom Ltd , which has partnered with private equity firm Silver Lake Partners LP; SK Hynix; Western Digital ; and Foxconn, the world's largest contract electronics maker. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | About 32,000 rally in Yerevan to deman Pashinyan’s resignation About 31,700 people attended an opposition rally on Thursday, May 9 in Yerevan demanding the resignation of Prime Minister Nikol Pashinyan. Armenian, Azerbaijani Foreign Minister to meet in Almaty Armenian Foreign Minister Ararat Mirzoyan and his Azerbaijani counterpart Jeyhun Bayramov will meet in Almaty. Viva-MTS: Tech solutions to modernize infrastructure of border village The border village has been the focus of Viva-MTS and the Foundation for the Preservation of Wildlife and Cultural Values since 2015. “By Your Side”: IDBank's new support program for displaced Artsakh citizens IDBank is launching a long-term social support program for forcibly displaced Artsakh residents. |