Toshiba Corp is looking to sell a minority stake in its core semiconductor business to Western Digital Corp, a source said, in a bid to dull the blow from a looming multi-billion-dollar writedown on a U.S. nuclear acquisition.
The laptops-to-engineering conglomerate, still recovering from a $1.3 billion accounting scandal, shocked investors last month by announcing cost overruns at a U.S. nuclear business it bought in 2015 which could now mean a charge against profit topping $4 billion.
