Toshiba Corp. is considering selling its washing machine factory in Indonesia as part of efforts to improve its finances, company sources said Friday.
The industrial conglomerate, whose financial strength has worsened due to a massive accounting scandal, plans to rebuild its money-losing home electric appliance business, the sources said.
The Indonesian factory began operating in 2012 to produce washing machines for the Southeast Asian market, including Indonesia. Toshiba also produces at a factory in Thailand washers exported to Japan, other Asian countries and the Middle East.
On Thursday, Toshiba said it will tie up with Skyworth Co., a major consumer appliance manufacturer in China, in the manufacture and sale of Toshiba refrigerators, washing machines and vacuum cleaners.
Toshiba plans to sell Skyworth a 5 percent stake in two of its group firms that make white goods in China.
Earlier this month, Toshiba announced a group net loss of ¥12.27 billion ($102 million) for the April to June quarter, as poor sales of its home appliances and personal computers hurt the bottom line amid an accounting scandal.