Toshiba, desperate for cash to avoid a possible delisting, is considering raising about JPY600 billion (US$5.3 billion) by offering new shares in a third-party allotment, a person briefed on the matter said on Friday.

Toshiba is being investigated by regulators in Japan concerning financial reports relating to the failed Westinghouse nuclear unit.

Yuji Sugimoto, managing director at Bain, spoke to The Nikkei about the private equity firm's plans for the Japanese company, including the more than JPY1 trillion (US$8.9 billion) that will be provided to Toshiba Memory before it goes public.

Although Toshiba has finally reached a crucial deal to sell its prized memory chip business, the troubled Japanese conglomerate has a long way to go to emerge from its crisis. Two years have passed since a damaging accounting scandal surfaced at the famed manufacturer that once played a leading role in Japan's infrastructure development and home appliance industry. How did things come to this point?

South Korea's SK Hynix said on Wednesday its board had approved its participation in a Bain Capital-led consortium that plans to purchase Toshiba's memory chip unit for JPY2 trillion (US$17.7 billion).

Toshiba told its main banks on Monday it has not signed the $18 billion sale of its semiconductor business because Apple, a member of the buyer group, has not agreed on key terms, two people involved in the deal said.

Japan's Toshiba has selected a group led by US private equity firm Bain Capital to buy its prized memory chip unit, three people with knowledge of the talks said on Wednesday, the latest dramatic twist to a highly contentious auction.

Apple is in talks to provide about US$3 billion in capital for Bain Capital's bid for Toshiba's memory-chip unit, adding to financial support from Dell, Seagate Technology and SK Hynix, according to people familiar with the matter.

Headhunters have been recruiting at Toshiba's Yokkaichi chip fabrication facilities in recent months.

Western Digital's CEO apologized to his counterpart at Toshiba for strained ties after the US firm sued to keep their chip joint venture from being sold to rival bidders, according to an Aug. 11 letter.

SK Hynix is reportedly considering taking legal action against Toshiba after being rebuffed by the Japanese conglomerate during the auction process of a memory-chip unit without appropriate notice, according to sources close to the matter.

Toshiba may not seal a $17.5 billion deal to sell its memory chip unit by a self-imposed Aug. 31 deadline due to disagreements over details of an offer by the bidders, people familiar with the matter said late on Tuesday.

Western Digital, part of a group offering to buy Toshiba Corp's (6502.T) memory chip unit, is not seeking a management role in the business, people familiar with the matter told Reuters on Friday.

Western Digital Corp.'s "Marry Me, or I'll Sue" tactics may have actually worked.

Japan's Toshiba is prioritising talks with Western Digital to sell its memory chip business, as negotiations with a previously preferred bidder have stalled, the Nikkei business daily reported on Wednesday.

Toshiba's main bank creditors have urged the embattled borrower to conclude a deal to sell its memory chip subsidiary this month (August 2017) to ensure the transaction is completed by the fiscal year-end next March, bringing in desperately needed capital

Toshiba has met a deadline to report its long-awaited earnings results, reducing the risk that the firm will be delisted from the Tokyo Stock Exchange. The embattled electronics firm posted a loss of US$8.8 billion for the last fiscal year.

Western Digital said it will move forward with arbitration to get a say over Toshiba's sale of its chip unit after the Japanese company agreed to provide notice before closing.

Toshiba's board will meet on Wednesday to consider offers for its chip unit from Western Digital and Taiwan's Foxconn in addition to a bid from a consortium that was previously favorite, a source familiar with the matter said. Toshiba is scrambling to sell its flash memory unit to cover losses from its bankrupt US nuclear business Westinghouse.

Western Digital won a temporary US court order on Tuesday saying that Toshiba must allow Western Digital's employees to access databases and chip samples as part of a joint venture with Toshiba around flash memory chip plants in Japan.

A plan for the sale of Toshiba's semiconductor unit includes an option for SK Hynix to eventually take a minority stake in the business, people involved in the proposed deal say, contradicting Toshiba's public statements.

Toshiba is suing Western Digital for JPY120 billion, accusing it of interfering in the attempted sale of its flash memory business. The Japanese giant is offloading the unit to cover huge losses in its US nuclear division.

Western Digital said in a June 25 letter to Toshiba's board that SK Hynix's participation in the consortium increased the likelihood of technology leakage to the rival chipmaker, adding that the winning bid did not appear to be bigger than its own offer.

Toshiba has chosen a consortium of Japanese government investors and Bain Capital as the preferred bidder for its chip business, aiming to seal a deal worth some $18 billion by next week as it scrambles for funds to cover massive losses.

Foxconn chairman Terry Gou told Nikkei Asian Review about the arrangements in an exclusive interview, a week after he said that Apple and Amazon were financially backing Foxconn's efforts in vying for Toshiba's memory chip unit.

Apple and computing giant Dell will join a Foxconn-led consortium bidding for Toshiba's highly prized chip unit, the CEO of the world's largest contract electronics manufacturer told Reuters on Monday.

Western Digital has offered to acquire less than 20% of Japanese partner Toshiba's memory chip arm, compromising on its prior demand for a majority stake in a bid to get negotiations moving.

Japanese financial company ORIX has recently joined SK hynix to acquire Toshiba's chip business possibly as part of the Korean chipmaker's efforts to soothe negative sentiments in Japan, the Korea Economic Daily reported on June 2.

Four suitors have come forward for Toshiba's cash-cow memory chip unit. But with aggrieved business partner Western Digital raising objections, the company likely will face many twists and turns before completing the deal that is so crucial to its survival.

Toshiba is well within its rights to sell its memory operations, the Japanese conglomerate has told business partner Western Digital in response to efforts by the hard-drive supplier to block the auction, it was learned Tuesday.

Toshiba's business partners are preparing for a scenario in which the company seeks to reorganize under Japanese bankruptcy laws, with consequences for the global nuclear-power and electronics industries.

Toshiba has announced it will split up its four main businesses into separate wholly owned subsidiaries. The spinoffs will begin in July and 19,000 employees will be transferred to the new companies.

Toshiba temporarily canceled all meetings and decisions related to the sale of its memory chip business to address concerns raised by an industry partner, people familiar with the matter said.

Taiwan's Foxconn has asked for SoftBank Group's cooperation in its bid for Toshiba Corp's prized memory chip unit, the Nikkei business daily reported on Friday.

Western Digital has warned Toshiba that the proposed sale of its memory business contravenes the terms of their flash foundry joint venture.

A recent report out of Japan says three of tech's biggest and most prominent companies are interested in bidding on Toshiba's memory chip business. Can this be true?

A Japanese public-private consortium is being assembled to bid for a stake in Toshiba's newly spun-off memory unit in hopes of heading off potential outflows of technology and talent from the country, it was learned Friday.

Struggling Toshiba's planned semiconductor business sell-off has attracted bids of more than JPY2 trillion ($18.1 billion) from two foreign companies.