Toshiba wants to build chip plant

toshiba-11q4-C655D-S5330-cover-lgWhile it is selling off bits of itself to make up the money lost in accounting scandals Toshiba wants to invest $3.2 billion  to build a new semiconductor plant in Japan.

The company is investing in the plant, which will make its proprietary 3D flash chips, over a period of three years till March 2019, it said in a statement Thursday. Toshiba expects output to begin no earlier than 2018.

The outfit has indicated that it wants to grow its chip business even if its appliances and healthcare need to be sold off as soon as possible. Canon has already agreed to buy Toshiba’s medical equipment unit for $5.9 billion

The chip investment will take place over three years, Toshiba said.

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.