japanese investors: The bid would be made jointly with Innovation Network Corp. of Japan, a state-backed investment fund, and the state-owned Development Bank of Japan, the sources said, according to The Japan Times. The purpose of the consortium would be to prevail over foreign bidders. The idea is to secure around 500 billion from dozens of Japanese companies through a new investment partnership to bid for an equity stake of over one-third in the flash memory business. The most likely scenario sees these Japanese investors joining forces with a U.S. firm or investment fund that participated in the first round of the auction. Hon Hai is also known as Foxconn. In the meantime, Toshiba Corp. received an offer amounting to nearly 3 trillion 27 billion from Hon Hai Precision Industry Co. of Taiwan in the first round of bidding, sources close to the matter said Friday.
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