In an effort to avoid falling into negative net worth amid huge losses from its U.S. nuclear business, beleaguered Toshiba Corp. is set to push ahead with plans to generate cash by selling stakes in group companies, sources close to the matter said Saturday.
The conglomerate is seeking support from financial institutions as it could incur a group net loss for the third straight year in the current fiscal year through March.
By reviewing its group-wide operations, the company will try to persuade lenders it is serious about restructuring through the sale of group businesses and assets, the sources said.