Electronics giant Toshiba Corp. agreed Thursday to pay 87 million yen to a former engineer to settle a lawsuit before the Tokyo District Court in which he sought some 1 billion yen from the royalties made from patents on his flash memory invention.
Fujio Masuoka, 63, became a professor at Tohoku University in Sendai after leaving Toshiba.
"It is a settlement that encourages inventors," Masuoka told a news conference. "The sum provided in the settlement is incredibly large compared with the 6 million yen I had been given as a reward for my inventions. It is a big step forward."