Friday, August 4, 2017

WD Reaffirms its Commitment to Making Significant Investments in NAND Flash-Memory Joint Ventures

Western Digital Corp. today commented on its commitment to the success of the three NAND flash-memory joint ventures ('the JVs") that Western Digital's SanDisk subsidiaries operate with Toshiba Corporation ("Toshiba").

Western Digital stated:

Western Digital is steadfast in its commitment to the success of the JVs. We have been in constructive dialogue with Toshiba over several weeks to come to mutually acceptable terms around our planned investment in the JVs, specifically in production equipment to be used at the new fab currently under construction in Yokkaichi, Fab 6. Those discussions are ongoing.

The JV operations are governed by agreements entered into by both partners. The agreements set out a framework for any investment by the partners in NAND manufacturing capacity – such as the investment in equipment for Fab 6. The agreements give us priority to participate in joint investments in Fab 6 equipment through the JVs, and that is exactly what we intend to do.

Our Board of Directors has authorized investments for our share of initial Fab 6 equipment. We remain committed to making continued significant investments in Yokkaichi and the surrounding communities to support the JVs and preserve Yokkaichi as the world's centerpiece of innovation in memory technology development and manufacturing.