Toshiba Corp. said Tuesday it will acquire land adjacent to its chip plant in Yokkaichi, Mie Prefecture, for ¥3 billion as the electronics maker aims to boost production of 3-D NAND flash memory chips.
In a bid to re-emerge from a massive accounting scandal, Toshiba is undergoing a broad restructuring, focusing its resources on growth areas, including flash memory chips.
Toshiba said the 150,000 sq. meters of land near its Yokkaichi plant will be used to construct a facility for 3-D flash memory chips, components that can hold more data than the conventional NAND-type memory. Construction will take place in fiscal 2016.
Toshiba jointly operates the existing plant with U.S.-based SanDisk Corp.
The Japanese firm said it “will continue to make focused investments that enhance its market competitiveness.”