[Technews] According to Reuters, the share price of Toshiba, a major Japanese semiconductor manufacturer currently actively negotiating the sale of its semiconductor business, surged by 22% during trading on the Tokyo Stock Exchange on the 18th, marking the largest increase in five months. Furthermore, it closed up 19% at 275.8 yen per share. Sources indicated that the main reason for Toshiba's share price surge was the potential finalization of the plan to sell its semiconductor business within this week.

The report pointed out that Toshiba was eager to sell its semiconductor business stake in order to cover the losses incurred due to the bankruptcy of its subsidiary Westinghouse Electric, which was caused by poor performance in its nuclear energy business. However, Toshiba's selection of the "US-Japan-Korea Alliance" - consisting of the US private equity firm Bain Capital, the Japanese public-private fund Innovation Network Corporation of Japan (INCJ), and the South Korean semiconductor giant SK Hynix - as the preferred negotiation partner led to opposition from its partner Western Digital. Previously, Western Digital had initiated arbitration through the International Chamber of Commerce in a US court, demanding that Toshiba cease the sale of its semiconductor business.

According to the original plan, the arbitration committee was supposed to announce the ruling on July 14th. However, the judge did not make a ruling as scheduled and instead postponed the final ruling for two weeks to July 28th. According to the latest report from Reuters, Steve Milligan, the CEO of Western Digital who has been selected as a senior official by Japan's Ministry of Economy, Trade and Industry (METI), is currently visiting Japan. Since METI has been coordinating efforts to secure a stake in Toshiba's semiconductor business through the "US-Japan-Korea alliance", Steve Milligan, who is currently visiting Japan, may be able to reach an agreement with the Japanese government and Toshiba to facilitate the smooth implementation of the equity sale plan. However, Western Digital declined to comment on the purpose of Steve Milligan's visit to Japan.

In addition, Toshiba has also made new progress in its negotiations with the "US-Japan-Korea alliance". Specifically, South Korea's SK Hynix, which had been bidding for Toshiba's semiconductor business, has changed its stance. SK Hynix will no longer demand voting rights in Toshiba's chip business. This removes another obstacle before a final agreement is reached for Toshiba to sell its semiconductor stake. On the 14th, INCJ Chairman Shiga Toshiyuki expressed his hope that a final agreement could be reached within this week.