Toshiba Sells Medical Leasing Business to Canon for US$277 Million

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Japanese electronics giant Toshiba Corp is reportedly selling its stake in a medical equipment leasing firm Toshiba Medical Finance Co to Canon Inc for JPY31.4 billion (US$277 million).

The announcement followed reports that the Japanese multinational conglomerate is eyeing to generate at least JPY1 trillion from the sale of its stake in its memory chip business.

The Japanese conglomerate had earlier decided not to sell any stake in its chip business before the 31 March end of the current business year, in a move that makes it certain the company will have a negative net worth at the year’s end.

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