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Report: Toshiba mulls Westinghouse sale

Toshiba Corp. is considering selling its subsidiary Westinghouse Electric Co. LLC as it faces losses of up to ¥680 billion from its nuclear plant business in the U.S., Jiji Press reported Jan. 31, citing people with knowledge of the matter.

The Japanese conglomerate, which is reviewing its overseas nuclear operations, is also looking at selling off the profitable pieces of the unit such as its nuclear fuel business.

Westinghouse, which is currently constructing four nuclear reactors each in the U.S. and China, was acquired by Toshiba in 2006 for about ¥490 billion.

As of Jan. 31, US$1 was equivalent to 112.39 Japanese yen.