Toshiba to delay chip business sale to next year

Toshiba Corp has decided to delay the sale of shares in its chip business to the next financial year or later, Japan's Kyodo news agency reported on Wednesday, without citing sources.

The Japanese conglomerate said on Tuesday it would book a $6.3 billion hit to its US nuclear unit and may sell a majority stake in its prized flash-memory chip unit as it scrambles for cash to stay in business.

Previously it had only planned to sell about 20 percent.

Toshiba is the world's biggest NAND chip producer after Samsung Electronics Co Ltd.

Potential buyers include rivals such as SK Hynix Inc, Micron Technology Inc as well as investment fund Bain Capital, according to sources.