Toshiba Corp. said Thursday it will spend around ¥360 billion ($3.2 billion) over the next three years through fiscal 2018 building and outfitting a facility to produce next-generation NAND-type flash memory.
The scandal-hit manufacturing giant is expected to discuss the possibility of obtaining additional investment from U.S.-based SanDisk Corp., the joint operator of Toshiba’s plant in Yokkaichi, Mie Prefecture.
The three-year investment plan was approved by Toshiba’s board of directors on Thursday.
Still reeling from an accounting scandal, Toshiba is undergoing a broad restructuring of its unprofitable businesses and shifting its focus to those with growth potential such as memory chips.
Toshiba has a competitive edge in 3-D flash memory chips that can hold more data than conventional storage technology. NAND flash memory chips are used in smartphones, tablets and other devices.
Toshiba is likely to expand its manufacturing capacity at the plant and will map out its plans by the end of fiscal 2016.
Toshiba said in a statement it will “continue to make focused investments that enhance its market competitiveness.”