Toshiba has been on the ropes after the disastrous acquisition of US nuclear energy firm Westinghouse, which racked up billions of dollars in losses before being placed under bankruptcy protection. But US chipmaker Western Digital, which has been engaged in joint production with Toshiba in Japan, opposed any sale to a third party without its consent and launched a series of legal actions. That sparked counter-litigation by Toshiba, spawning fears the much-needed sale for the cash-strapped group could be derailed. In addition to dropping its lawsuit, Western Digital will jointly invest in a new chip-manufacturing facility in central Japan. Western Digital is also expected to invest in another factory planned in northern Japan.

Source: The Nation Bangkok December 13, 2017 00:22 UTC