8-KRegulation FDExhibits & Filings

WESTERN DIGITAL CORP 8-K Report, Regulation FD Disclosure (Sep 21, 2017)

Filed September 21, 2017For Securities:WDC

Summary

Western Digital Corporation (WDC) disclosed in an 8-K filing on September 20, 2017, that its SanDisk subsidiaries have initiated an additional Request for Arbitration with the ICC International Court of Arbitration. This action is related to ongoing disputes concerning three NAND flash-memory joint ventures operated in partnership with Toshiba Corporation. This development signifies an escalation in the legal and arbitration proceedings between WDC and Toshiba, which are critical partners in the memory chip industry. Investors should monitor the arbitration outcomes as they could potentially impact the operational and financial aspects of these significant joint ventures, particularly concerning NAND flash memory, a key component in data storage solutions.

Key Highlights

  • 1WDC's SanDisk subsidiaries filed an additional Request for Arbitration with the ICC International Court of Arbitration.
  • 2The arbitration concerns three NAND flash-memory joint ventures with Toshiba Corporation.
  • 3This filing indicates an escalation of ongoing disputes between Western Digital and Toshiba.
  • 4The outcome of this arbitration could have material implications for WDC's joint venture operations and financial performance.
  • 5The press release attached as Exhibit 99.1 provides further details on the arbitration filing.

Frequently Asked Questions

The primary reason for this filing is to formally announce that Western Digital's SanDisk subsidiaries have submitted an additional Request for Arbitration with the ICC International Court of Arbitration regarding disputes over three NAND flash-memory joint ventures with Toshiba Corporation.

The dispute is related to three NAND flash-memory joint ventures that Western Digital (through its SanDisk subsidiaries) operates with Toshiba Corporation. Specific details of the dispute are not fully disclosed in the 8-K but are implied to be significant enough to warrant further arbitration.

The arbitration proceedings could potentially lead to financial liabilities, changes in operational control or structure of the joint ventures, or other resolutions that impact Western Digital's revenue, profitability, and strategic positioning in the NAND flash-memory market, which is a core part of its business.

According to the filing, information provided under Item 7.01, including Exhibit 99.1, is not deemed 'filed' for purposes of Section 18 of the Exchange Act or incorporated into other SEC filings, unless expressly stated otherwise. However, the disclosure itself is material information for investors.