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NAR: Western Digital investing $4.68B in Toshiba JV

Published 03/09/2018, 11:08 AM
© Reuters.  NAR: Western Digital investing $4.68B in Toshiba JV
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  • Nikkei Asian Review reports that Western Digital (NYSE:WDC) will invest $4.68B over three years in a memory chip JV with Toshiba (OTCPK:TOSBF, OTCPK:TOSYY).
  • The JV will finance a new production lines building at Toshiba’s Yokkaichi plant in Mie Prefecture (which has a larger production capacity than Samsung’s main facility) and an investment at a Kitakami plant in Iwate Prefecture.
  • The lines will increase production of 3D tech flash memory, which offers increased data capacity.
  • The new JV reinforces Western Digital’s commitment to playing nice with Toshiba after the long legal battle over the sale of Toshiba’s chip unit.
  • Western Digital shares are up 2.6% to $99.72 with a 52-week range of $71.38 to $99.94.
  • Now read: Western Digital: Investment Thesis Still Bullish


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