Toshiba considering selling part of Westinghouse - sources

Reuters News
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Posted: Jul 08, 2015 7:32 PM

TOKYO (Reuters) - Toshiba Corp, which is expected to mark down past profits due to an accounting scandal, is considering selling assets including part of its stake in Westinghouse Electric, sources with knowledge of the matter said on Thursday.

The Nikkei business daily, which first reported the news, said the Japanese industrial conglomerate plans to generate about 200 billion yen ($1.7 billion) through the sales.

Toshiba may need to mark down past earnings by over 100 billion yen due to past accounting irregularities, a source familiar with the matter has told Reuters.

(Reporting by Reiji Murai; Writing by Chris Gallagher; Editing by Stephen Coates)