Japan government-backed fund proposes buying Toshiba's white goods unit - Yomiuri | Reuters - Firstpost
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Japan government-backed fund proposes buying Toshiba's white goods unit - Yomiuri | Reuters

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TOKYO A fund backed by the Japanese government has proposed buying Toshiba Corp's electric appliances business, the Yomiuri newspaper reported.

The Yomiuri, citing unnamed sources, said the Innovation Network Corp of Japan would make a 100 percent investment after Toshiba split off the business.

The INCJ is considering merging the business with the appliances unit of Sharp Corp, whose business reconstruction the fund also plans to support, the paper said.

Toshiba has embarked on a large-scale restructuring after a $1.3 billion accounting scandal.

(Reporting by Chris Gallagher; Editing by Stephen Coates)

This story has not been edited by Firstpost staff and is generated by auto-feed.

First Published On : Jan 21, 2016 06:15 IST

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