According to a Reuters news report on April 15, Beijing time, people familiar with the matter said on Friday that Toshiba is likely to obtain approval from creditors to use the most valuable chip business as collateral to secure a value of approximately 1 trillion yen (approx. $9.2 billion) of new loans and loan commitments. The approval of creditors is crucial to Toshiba. Toshiba needs billions of dollars of new funds to weather the storm before it completes the sale of its storage chip business. Toshiba expects to be able to raise about 2 trillion yen by selling chips. Some small lenders hesitated about Toshiba’s proposal to pledge shares in chip business because Toshiba had previously pledged other assets, such as company stocks and real estate. Prior to the Friday deadline, some lenders have not yet agreed to the mortgage proposal, but the Toshiba primary lender expects that all creditors will agree. According to the sources, Toshiba hopes to obtain a new loan of approximately 300 billion yen after the chip business shares are pledged, attracting a loan commitment of 680 billion yen. The loan commitment is the loan amount promised by the lender, which has been established before, but given Toshiba’s current financial problems, the company needs approval to obtain funds from the bank.