August 10, 2017 / 7:19 AM / a month ago

Toshiba CEO: wants to close chip business sale by end-March

Toshiba Corp CEO Satoshi Tsunakawa attends a news conference at the company's headquarters in Tokyo, Japan, August 10, 2017. REUTERS/Toru Hanai

TOKYO (Reuters) - Toshiba Corp is still trying to sell its chip business by the end of the current fiscal year to next March, but has not decided what to do if those efforts fail, CEO Satoshi Tsunakawa said on Thursday.

The conglomerate hopes auctioning its chip unit will help it pay debt and cover the impact of $6.3 billion in liabilities linked to Westinghouse, but talks on the sale have stalled.

Reporting by Makiko Yamazaki

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