Toshiba has no plans to release its complete holdings in Phison Electronics, its supplier of controllers for NAND flash devices, according to a Toshiba executive, adding that cooperation between the two parties remains closed.

Toshiba has lowered its stake in Phison to 12% from 16% previoiusly through disposing of six million shares of the company. Phison was quoted as saying in previous reports that the share sale would not affect the relationship between the two.

Toshiba reportedly gained around NT$1 billion through the sale of Phison shares.

In other news, Phison posted revenues of NT$2.73 billion (US$95.3 million) for April 2011, down 12% sequentially. Despite decreased revenues, the company said its gross margin still remained at a high level in the month.

Phison reported net profits of NT$649 million on revenues of NT$7.71 billion for the first quarter of 2011. EPS for the quarter came to NT$3.66.