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Toshiba to sell TV unit to China's Hisense for $113.6m

Japanese company shedding noncore assets to ease losses from U.S. nuclear unit

Toshiba's television subsidiary produced about 700,000 TV sets during the last fiscal year up to March.

TOKYO -- Embattled Japanese electronics-maker Toshiba said on Tuesday it has agreed to sell its television subsidiary to Hisense Group, a major Chinese electronics manufacturer.

Toshiba will sell a 95% stake in Toshiba Visual Solutions to Hisense Electric, the group's Shanghai-listed core unit, for 12.9 billion yen ($113.6 million). The Japanese company will retain the remaining 5% stake.

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