February 2, 2017 6:00 am JST

IHI may divest stake in Westinghouse

Contract allows the machinery maker to sell to Toshiba

TOKYO -- Heavy machinery maker IHI may sell its 3% stake in Westinghouse Electric to Toshiba, parent of the troubled U.S. nuclear power business, as allowed under a contract signed between the Japanese companies.

Toshiba is scheduled to release its earnings results for the April-December period on Feb. 14, when it will disclose the size of losses tied to Westinghouse. IHI intends to wait for the announcement and then may take steps to avoid its own losses, Managing Executive Officer Mikio Mochizuki said Wednesday.

When IHI acquired the Westinghouse stake for $162 million in 2006, it obtained the right to call on Toshiba to buy the shares.

(Nikkei)

IHI Corp.

Japan

Market(Ticker): TKS(7013)
Sector:
Industry:
Producer Manufacturing
Industrial Machinery
Market cap(USD): 5,060.78M
Shares: 1,546.79M

Toshiba Corp.

Japan

Market(Ticker): TKS(6502)
Sector:
Industry:
Consumer Durables
Electronics/Appliances
Market cap(USD): 11,573.15M
Shares: 4,237.60M

Get Insights on Asia In Your Inbox

To read the full story, Subscribe or Log in

Get your first month for $0.99

Redeemable only through the Subscribe button below

Once subscribed, you can…

  • Read all stories with unlimited access (5 articles per month without subscription)
  • Use our smartphone and tablet apps

To read the full story, Subscribe or Log in

3 months for $9
SUBSCRIBE TODAY

Take advantage of this limited offer.
Subscribe now to get unlimited access to all articles.

To read the full story, Update your account

Resubscribe now to continue reading.
BEST OFFER:
Only US$ 9.99 per month for a full-year subscription

To read the full story, Subscribe or Log in

Once subscribed, you can…

  • Read all stories with unlimited access (5 articles per month without subscription)
  • Use our smartphone and tablet apps

To read the full story, Subscribe or Log in

3 months for $9
SUBSCRIBE TODAY

Take advantage of this limited offer.
Subscribe now to get unlimited access to all articles.

To read the full story, Update your account

We could not renew your subscription.
You need to update your payment information.