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4-Traders Homepage  >  Equities  >  KOREA EXCHANGE  >  SK Hynix Inc    000660   KR7000660001

SK HYNIX INC (000660)
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SK Hynix To Invest In Toshiba Chip Deal -- WSJ

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09/28/2017 | 06:58am CEST
By Kwanwoo Jun 

This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (September 28, 2017).

The board of SK Hynix Inc. has approved the South Korean chip maker's participation in a Bain Capital-led consortium that plans to buy Toshiba Corp.'s memory-chip unit for Yen2 trillion ($18 billion).

A stake in the Toshiba unit would give SK Hynix a bigger presence in the NAND chip market, where it lags behind its rivals. Toshiba is the world's second-biggest NAND chip producer, next to South Korea's Samsung Electronics Co. But SK Hynix's partial ownership in the Toshiba unit could also potentially raise antitrust challenges.

SK Hynix said in a written statement Wednesday it will invest Yen395 billion, of which Yen129 billion will take the form of convertible bonds that it expects to change later into equity for as much as 15% of the voting rights in the Toshiba chip unit.

The Bain-led consortium will hold 49.9% of the voting rights, while Toshiba will hold 40.2% and Japan's Hoya Corp will own 9.9%, the statement said.

Toshiba's board last week agreed to sell its chip unit to the Bain consortium, but the signing of the deal has yet to be done.

The consortium will try to complete the purchase deal by March in 2018, SK Hynix said in the statement.

Write to Kwanwoo Jun at [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
HOYA CORPORATION -0.38% 6540 End-of-day quote.13.92%
SK HYNIX INC --End-of-day quote.
TOSHIBA CORP 0.57% 352 End-of-day quote.8.64%
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Latest news on SK HYNIX INC
02:48aSK HYNIX : Patent Issued for Memory System and Operating Method (USPTO 10020061)
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07/12SK HYNIX : Patent Issued for Semiconductor Device (USPTO 10014042)
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07/12SK HYNIX : Researchers Submit Patent Application, "Semiconductor Memory Device I..
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07/12SK HYNIX : Patent Application Titled "Sensing Devices for Sensing Electrical Cha..
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07/12SK HYNIX : Patent Issued for Memory Module Including Plurality of Memory Package..
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07/12SK HYNIX : Patent Issued for Image Sensor Having Test Pattern and Offset Correct..
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07/12SK HYNIX : Patent Issued for Clock Detectors and Methods of Detecting Clocks (US..
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07/12SK HYNIX : Patent Issued for Semiconductor Integrated Circuit (USPTO 10014290)
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Financials (KRW)
Sales 2018 40 749 B
EBIT 2018 20 792 B
Net income 2018 15 386 B
Finance 2018 8 282 B
Yield 2018 1,60%
P/E ratio 2018 4,19
P/E ratio 2019 4,39
EV / Sales 2018 1,39x
EV / Sales 2019 1,15x
Capitalization 65 011 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 37
Average target price 114 478  KRW
Spread / Average Target 28%
EPS Revisions
Managers
NameTitle
Sung-Wook Park Vice Chairman & Chief Executive Officer
Joon-Ho Kim Co-President, Director & Head-Management Support
Seok-Hee Lee Co-President, Director & Head-Business Support
Tae-Won Chey Chairman-Executive Board
Myung-Young Lee Senior Managing Director & Head-Finance
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