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Toshiba in turmoil

Toshiba to sell Toshiba Carrier stake for $869m to U.S. partner

Company opts to break up into 2 parts instead of 3, enlarging shareholder profit

Toshiba is set to sell Toshiba Carrier, a 60% owned air-conditioning subsidiary to its U.S. counterpart, Carrier Global Corporation. (Photo by Shuhei Yuzawa)

TOKYO -- Toshiba is set to sell Toshiba Carrier, a 60% owned air-conditioning subsidiary to its U.S. counterpart, Carrier Global Corporation, for around 100 billion yen ($869 million), Nikkei has learned.

The two companies have reached an agreement and are proceeding with final adjustments. The move comes as Toshiba aims to eliminate non-core business and looks to focus on more profitable businesses.

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