Japan State-Backed Fund to Support Toshiba's Restructuring

By Reuters
December 31,2015
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The logo of Toshiba Corp is seen behind trees at its headquarters in Tokyo, Japan, November 6, 2015. REUTERS/Yuya Shino

(Reuters) - A Japanese state-backed fund will help Toshiba rebuild its home electronics division and other operations by facilitating tie-ups with Sharp and others, the Nikkei reported.

Toshiba is looking to merge its white goods segment with its counterpart at Sharp or another Japanese home electronics manufacturer, the newspaper said.

Support would come from the industry ministry and public-private investment fund, the Innovation Network Corp of Japan (INCJ), the report said.

The fund could also help Toshiba restructure its nuclear power business as the manufacturer hopes to find a partner for boiling-water reactors, the paper reported.

Toshiba was not immediately available for comment.

Reuters reported earlier this month that INCJ was looking to inject funds into Sharp and was pursuing a broader restructuring of the troubled firm including a possible merger with Toshiba's consumer electronics arm.

 

 

(Reporting by Nikhil Subba in Bengaluru; Editing by Stephen Coates)