Nuclear Disasters

Toshiba pushes back closing deal on memory unit sale

Japanese electronics and energy giant Toshiba has delayed its deadline for reaching an agreement on selling its lucrative computer memory chip business.

The company said Wednesday negotiations were continuing on a 2 trillion yen ($18 billion) deal with a consortium led by a Japanese government-backed fund. Tokyo-based Toshiba had hoped to have an agreement in time for Wednesday's shareholders meeting, being held in a city east of Tokyo.

Financially ailing Toshiba is facing the risk of having its shares delisted and needs the cash from selling Toshiba Memory Corp. to survive. Its shares are being bumped from the first to the second section of the Tokyo Stock Exchange, and...

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