Toshiba Corp., a major Japanese electronics company mired in an accounting scandal, is selling its e-book distribution business to video-on-demand company U-Next Co. for an undisclosed sum on Sept. 30, Tokyo-based U-Next said Wednesday.
A Toshiba source said the company had long been considering the sale of its BookPlace service as part of its shift of focus to infrastructure businesses.
A public relations official dismissed any link to recent divestment actions, which the company has been mulling in the wake of revelations of profit-padding.
Toshiba delayed the release of its financial results in the year ending March again earlier this week, saying they have found more cases of accounting problems at subsidiaries. The company is planning to present an earnings report on Monday.