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Kioxia has reached out to JIC to invest in merger with Western Digital – Bloomberg News

Reuters
Reuters
Japanese chipmaker Kioxia's products are displayed at its headquarters in Tokyo

TOKYO (Reuters) – Kioxia Holdings has reached out to state-backed Japan Industrial Partners (JIC) to invest in a planned merger of its flash memory business with that of Western Digital, Bloomberg News reported on Friday, citing people familiar with the matter.

Japan’s top banks are set to commit to 1.9 trillion yen ($12.67 billion) in financing to support the merger, Reuters reported on Thursday.

($1 = 149.9400 yen)


(Reporting by Rocky Swift; Editing by Christopher Cushing)

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