Business / Corporate

Embattled Toshiba to buy land near Mie factory in focus on flash memory chips


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.”