Toshiba flogs part of its chip biz

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Japan’s troubled Toshiba plans to sell part of its chip business as it aims to recover from a $1.3 billion accounting scandal.

Early interest in the sale has been shown by the Development Bank of Japan as the state-owned bank has already invested in Seiko’s semiconductor operations.

The sale would exclude Toshiba’s mainstay NAND flash memory operations which are still doing rather well.