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
"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
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 <AVGO.O>,
which has partnered with private equity firm Silver Lake
Partners LP; SK Hynix <000660.KS>; Western Digital <WDC.O>; and
Foxconn <2317.TW>, the world's largest contract electronics
Broadcom Ltd has put in the highest first-round offer of 2.5
trillion yen ($23 billion) while Taiwan's Foxconn, the world's
largest electronics contract manufacturer, offered 2 trillion
yen, one person familiar with the matter has said.
INCJ was established in 2009 to promote new and innovative
technologies, with a limited fund life of 15 years. About two
dozen private-sector companies including Toyota Motor Corp
<7203.T> and Sony Corp <6758.T> are also minority participants
in the fund. Its past investments include Japan Display Inc
(Reporting by Taiga Uranaka, Additional writing by Thomas
Wilson; Editing by Edwina Gibbs)
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