Toshiba asset sales after chips spin-off will cut to the bone

Tokyo

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 endeavours, 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.

Satoshi Tsunakawa, Toshiba's president, said that the company is looking at selling shareholdings…