Toshiba might be able to turn its fortunes around if it can successfully sell its prized memory business, analysts told CNBC on Wednesday.
A day earlier, the troubled Japanese conglomerate finally released twice-delayed earnings for the first nine months of the fiscal year ending March 31, 2017, without auditor endorsement that could increase the likelihood of Toshiba being de-listed from the Tokyo Stock Exchange.
"The disposal of the memory business is absolutely key to turn around the (broader) business," Damian Thong, a senior analyst at Macquarie Securities Japan told CNBC's "The Rundown."
Shareholders gave the go-ahead at the end of March for Toshiba, the world's second biggest producer of NAND flash memory behind Samsung, to spin off that business unit.
In the October to December quarter last year, Toshiba held a 17.4 percent market share by revenue, behind leader Samsung's 36.1 percent, IHS Markit data showed. IHS noted recently that the NAND market will continue to expand due to prices rising in early 2017 and seasonal tailwinds expected in the second half of the year — that trend makes Toshiba's memory business lucrative to potential buyers.