Another player signs up for a load of old Tosh

US private equity outfit KKR & Co and Japanese government-backed fund, Innovation Network of Japan (INCJ) have announced that they will send a joint offer for Toshiba’s memory chip unit.

They are the latest to throw their hat into the ring to buy the memory chip unit, which Tosh is flogging off to cover charges at its US nuclear business, Westinghouse.

KKR is expected to take part next month in a second bidding round after performing due diligence on Toshiba’s memory chip business, the Nikkei report said.

INCJ could invest in the Toshiba business if it made sense, Japan’s industry and trade minister had said on Wednesday. The Japanese are concerned about Japanese companies being flogged off overseas.

Toshiba has so far narrowed the field of bidders to four: Western Digital, Broadcom, South Korea’s SK Hynix and Foxconn.