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Toshiba President Satoshi Tsunakawa
Business

Development Bank of Japan considering Toshiba aid

Loss from company's nuclear power business could hit $6.12 billion

TOKYO -- The Development Bank of Japan, a government-backed lender, has begun considering how it might come to the aid of beleaguered Toshiba, the Nikkei learned on Thursday.

The bank is believed to be considering an investment in the Japanese conglomerate's semiconductor operations after they are spun off from the company.

There are other options, like dipping into a fund the DBJ has with Sumitomo Mitsui Banking Corp.

Toshiba's losses in its nuclear power business, which could exceed 700 billion yen ($6.12 billion), have put the company in urgent need of strengthening its financial base.

Toshiba is considering plans to spin off its core flash memory business as well as its nuclear business.

(Nikkei)

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