Toshiba Climbs After Reports Its Chip Business Drawing Interest

Toshiba Corp. shares climbed the most in three weeks after reports the company’s plan to sell a stake in its chip unit is drawing attention from possible investors. The stock climbed as much as 7.3 percent to 264.8 yen in Tokyo, the biggest intraday gain since Dec. 30. Toshiba may sell a 20 percent stake in its memory chip operations to raise as much as 200 billion yen and has received interest from Canon Inc. and Tokyo Electron Ltd. as well as overseas private equity funds, the Asahi reported, without citing anyone.