Toshiba Corp. said Friday it plans to book a special profit of roughly ¥40 billion ($357 million) in the business year to March from the sale of its Swiss subsidiary's shares, part of its effort to raise cash for its looming restructuring plans.
The embattled conglomerate said it would offer its 60 percent stake in Landis+Gyr Group AG for some ¥161.7 billion when it listed the shares on the SIX Swiss Exchange on Friday.
"Toshiba seeks to enhance its financial structure by selling its entire interest in Landis+Gyr Group AG," Toshiba said in a statement.