Toshiba to invest $3.2 billion in new Japan chip facility

Reuters News
Posted: Mar 16, 2016 11:22 PM

TOKYO (Reuters) - Toshiba Corp said it plans to invest 360 billion yen ($3.2 billion) to build a new semiconductor facility in Japan, showing it wants to grow its chip business even as it eyes the sale of other units such as appliances and healthcare.

The investment will take place over three years, Toshiba said in a statement on Thursday.

It also said separately that it was delaying its planned adoption of international financial reporting standards (IFRS). It still planned to eventually adopt the global standard, it said, but efforts to do so had been held up since last year's accounting scandal.

(Reporting by Makiko Yamazaki and Ritsuko Ando; Editing by Chris Gallagher)