Sales in this segment fell 10 percent during the last financial year and its operational losses amounted to around $905 million, EFE news reported. Toshiba might also sell off its holdings in Toshiba Tec, dedicated to retail business solutions, and Toshiba Medical Systems, a wholly owned provider of diagnostic imaging systems.
Through these sales, the Tokyo-based company seeks to obtain more liquidity to carry out its restructuring plans for its appliance and television businesses following an accounting scandal. After the scandal broke out earlier this year, Toshiba admitted that between 2007 and 2014 it overstated its sales profits by around $1.86 billion and its operating profits by $1.28 billion.
The Toshiba accounting scandal has been described as the biggest financial fraud in Japan in recent years. (IANS)