Deals
Toshiba Asset Sales After Chips Spinoff Will Cut to the Bone
- Chip unit to be spun out in March to sell a minority stake
- 600 units, stakes and ventures will be difficult to separate
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Toshiba Corp. is looking to sell more assets to repair a balance sheet facing multibillion-dollar writedowns. The conglomerate happens to have more than 600 different businesses, but raising cash from the firesale will be far from simple.
While Toshiba’s two biggest enterprises are nuclear reactors and semiconductors, the Tokyo-based company also has its hands in a wide range of endeavors, including elevators, a general hospital, software services and light bulbs. It even had a lettuce-growing factory. Making matters worse, a round of asset sales following Toshiba’s 2015 accounting scandal eliminated many of the easy choices.