TOKYO (AP) — The buyers of the memory operations at Toshiba Corp. are promising to invest in technology development and manufacturing facilities to stay competitive.
The 2 trillion yen ($18 billion) deal for the consortium led by Bain Capital Private Equity to acquire Toshiba Memory, closed June 1, after clearing anti-trust regulatory approval.
Yuji Sugimoto of Bain told reporters Monday the company may change its name to enhance the brand's image and aims for an initial public offering on the Tokyo Stock Exchange within a few years.
Sugimoto and Toshiba Memory President Yasuo Naruke did not give a specific monetary amount for the planned investments.
They said talks started with Innovation Network Corp. of Japan, a government investment fund, and the Development Bank of Japan, but nothing has been decided.