TOKYO -- Toshiba's board of directors decided to raise some 600 billion yen ($5.35 billion) in capital, the Japanese electronics maker said Sunday, in a move to ensure that the company remains listed if plans to sell its memory chip unit do not proceed as expected.
Tokyo Stock Exchange rules require delisting a company whose net worth is negative for two consecutive years. Toshiba would use the funds to cover liabilities, having been put on the hook tied to its U.S. nuclear power business.
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