Investing
Kioxia has reached out to JIC to invest in merger with Western Digital – Bloomberg News
© Reuters. FILE PHOTO: Japanese chipmaker Kioxia’s products are displayed at its headquarters in Tokyo, Japan, September 30, 2021. REUTERS/Kim Kyung-Hoon/File Photo
TOKYO (Reuters) – Kioxia Holdings has reached out to state-backed Japan Industrial Partners (JIC) to invest in a planned merger of its flash memory business with that of Western Digital (NASDAQ:), Bloomberg News reported on Friday, citing people familiar with the matter.
Japan’s top banks are set to commit to 1.9 trillion yen ($12.67 billion) in financing to support the merger, Reuters reported on Thursday.
($1 = 149.9400 yen)
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