TOKYO -- Toshiba said Thursday it will unload the bulk of its holdings in affiliate Toshiba Machine, the latest step to improve its balance sheet after incurring a massive loss in the U.S. nuclear power business.
The Japanese company plans to sell an 18.1% stake, or about 30.2 million shares. Toshiba owns roughly 33.54 million shares in total, or around 20.1% of the company. After the deal, Toshiba Machine will no longer be an equity-method affiliate.
