June 21, 2017 / 5:32 PM / 2 months ago

BRIEF-Japanese government-led group looks to turn Toshiba memory unit into subsidiary - Nikkei

June 21 (Reuters) - Nikkei:

* Japanese fund looks to turn Toshiba memory into subsidiary - Nikkei

* Japanese-Government-Led consortium proposal would have Innovation Network Corp of Japan buy 50.1% of Toshiba memory's common stock - Nikkei

* Japanese government-led group's proposal would have INCJ buy 50.1% of Toshiba memory's stock, making the spun-off Toshiba unit a subsidiary - Nikkei

* Japanese government-led consortium proposal would have Development Bank of Japan own 16.5% of Toshiba's flash memory unit - Nikkei

* Japanese government-led group plans to have 33.4% of Toshiba's flash memory unit divided between Bain Capital, SK Hynix - Nikkei Source text: (s.nikkei.com/2sQKdK0) Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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