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Reports: Toshiba nears deal to sell PC business to Sharp

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Reports: Toshiba nears deal to sell PC business to Sharp

Toshiba Corp. is in talks with electronic products maker Sharp Corp. on the sale of its personal-computer business for about ¥5 billion, Japanese media reported.

The Nikkei Asian Review said that an agreement could be reached within a week. Sharp would hold 80% of the PC business, known as Toshiba Client Solutions Co., while Toshiba would keep a minority stake.

But Toshiba said nothing has been decided as it is also in talks with other potential buyers and is considering various options for the business, Reuters reported, citing a statement from the company.

The potential sale is part of Toshiba's restructuring efforts. The company has been seeking a buyer for its PC business since 2017, according to the Japanese media reports.

Toshiba Client Solutions reported an operating loss of ¥9.6 billion in fiscal 2017, compared to a loss of ¥500 million in the previous fiscal year. Net sales declined to ¥167.3 billion in the fiscal year that ended March 31, from ¥191.8 billion a year ago.

The division's development base in west Tokyo closed in March 2017, The Japan Times said.

As of June 1, US$1 was equivalent to ¥109.44.