Intel Trims Full-year Forecast Battered Shares Rise

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JIC hopes to evaluate Toshiba's businesses in more detail, including the impact of slumping global semiconductor demand http://5oclock.ru/ on the value of Toshiba's 40.6% stake in flash memory chip maker Kioxia Holdings Corp, one of the sources said.

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Despite being selected as preferred bidder, JIP has struggled to secure enough equity commitments from potential partners, sources have said.
It now looks set to miss a Monday deadline to deliver a firm proposal that includes letters of commitment from banks, sources have said.

"No, I don't believe it changed direction at all, and importantly, the decisions made in relation to that matter ... I actually took no role in the specific decisions," Mr Barbour told a parliamentary committee on Thursday.

"The amount that we can do with respect to people costs is a minority of our overall cost structure. So driving efficiency in the factory network is way more important to our economics than people cost," Gelsinger told Reuters, adding that adjustments to flexible workforces can be "quite immediate".

JIP's plan has since raised alarm among some of Japan's big banks, whose funding would be critical to financing a buyout of the $15 billion company, according to the two sources familiar with the talks and another person.

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Chipmaker Intel Corp on Thursday cut its full-year profit and revenue forecast and warned it would lay off staff, but a stronger-than-expected performance at its personal computers segment helped send shares higher.

The Japanese government owns 96% of JIC.
The trade ministry has said the fund cannot spend taxpayer money on a deal just to take a company private and make things easier for management. Any investment would have to fulfil policy goals such as promoting restructuring, it has said.

"Our products weren't shipping new products like Sapphire Rapids, but as those are now in full production and we're going to be ramping those aggressively, we're better positioned going forward than we have," he told Reuters, adding that it would take several quarters to ramp up.

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In late October, JIC expanded the size of its buyout fund to 900 billion yen ($6.11 billion) from 200 billion yen. Two of the sources said the expansion was not just for a Toshiba buyout but also aimed at other deals.

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Intel trimmed its full-year adjusted earnings per share forecast to $1.95 from $2.30. (Reporting by Chavi Mehta in Bengaluru and Jane Lanhee Lee; Editing by Devika Syamnath, David Gregorio and Deepa Babington)