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Toshiba to 'aggressively consider' sale of most of Westinghouse
March 14, 2017 / 5:11 AM / 9 months ago

Toshiba to 'aggressively consider' sale of most of Westinghouse

TOKYO (Reuters) - Japan’s Toshiba Corp said on Tuesday it will speed up looking at whether it should sell a majority of its overseas nuclear power business.

FILE PHOTO - A logo of Toshiba Corp is seen outside an electronics retail store in Tokyo, Japan, January 19, 2017. REUTERS/Toru Hanai/File Photo

The company plans to review the positioning of its U.S. nuclear power unit Westinghouse and “aggressively consider strategic options for it,” the company said in a regulatory filing.

It also said it is aiming for an operating profit of 210 billion yen ($1.8 billion) in the year starting April 2019 - a target that excludes Westinghouse and its flagship memory chip business which it has put up for sale.

The conglomerate as a whole has estimated an operating loss of 410 billion yen for the year ending this March.

($1 = 114.8400 yen)

Reporting by Makiko Yamazaki; Editing by Edwina Gibbs

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