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Toshiba’s stock climbed as much as 7.6 per cent on Friday after Japanese media reported again that the beleaguered conglomerate had received offers of at least ¥2tn ($18bn) for the company’s memory chip unit. The report from Asahi News said Taiwan’s Hon Hai – also known as Foxconn – as well as a group comprised of US chipmaker Broadcom and private equity group Silver lake had made offers of ¥2tn or more for the unit.

Both bids had been previously reported, and Satoshi Tunakawa, Toshiba’s president, has stated the unit will be sold for no less than ¥2tn. South Korea’s SK Hynix and least three other groups are thought to have made bids for a minority stake in Toshiba’s Nand flash memory unit chip business.

Shares were still up 6.1 per cent in morning trade, while the Topix index had risen 1.1 per cent by comparison.

Copyright The Financial Times Limited 2017. All rights reserved.

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