Toshiba Corp. has offered to provide more collateral, including shares of its prized memory chip unit, to its creditor banks, asking them to roll over their loans until the end of April.
Toshiba held a meeting with the lenders on Wednesday at its headquarters after the beleaguered technology conglomerate missed a second deadline to report its third-quarter earnings Tuesday, deepening its financial woes.
The request for rollover loans is the third by Toshiba since it emerged last December that its U.S. nuclear unit Westinghouse Electric Co. is experiencing huge losses.