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Business

More credit sought to fund restructuring

Toshiba President Masashi Muromachi announced a sweeping restructuring plan this month.

TOKYO -- Toshiba intends to ask for an additional 300 billion yen ($2.46 billion) in credit lines from its main lenders by the end of January as plans for a large-scale restructuring threaten to leave the company short on cash.

     Chief Financial Officer Masayoshi Hirata discussed the plans in an interview Monday. Toshiba is likely to approach multiple financial institutions including Mizuho Bank and Sumitomo Mitsui Banking Corp.

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