Japanese conglomerate Toshiba has reportedly decided to sell its memory-chip business to a bidding group which includes South Korean chipmaker SK Hynix and U.S. investment bank Bain Capital.
 
Reuters reported on Wednesday that the decision was made by Toshiba’s board and would be announced later in the day.
 
Amid ongoing financial woes, the embattled Japanese company has been seeking to sell off its prized memory chip business to one of three groups of bidders.
 
SK Hynix is South Korea's second largest chipmaker, after Samsung Electronics, and also ranks second in terms of sales in the global DRAM market.