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Toshiba Corp. plans to gradually unload its 40.2 percent stake in Kioxia Holdings when the latter lists its shares in an IPO later this year.
So far, Toshiba has not finalized its decision over its stake in Kioxia, the world's second-largest flash memory chip firm.
Among the various possibilities is the distribution to shareholders of about half or more of after-tax proceeds from the sale back.
Kioxia was Toshiba's memory chip business until selling it to a consortium led by U.S. private equity firm Bain Capital for $18 billion in 2018.
Toshiba later repurchased 40.2 percent of common stock in Kioxia.
The initial public offering of Kioxia is estimated market valuation to reach $32 billion in an IPO as early as October and could be Japan's biggest listing this year.
Toshiba is being urged by overseas fund investors to sell its stake Kioxia due to the highly volatile nature of the flash memory chips business that could sway the company's earnings.
