Quick Take: Toshiba Sells TV Unit to China’s Hisense

Photo: IC
Photo: IC

Toshiba Corp. is selling its television manufacturing subsidiary to China’s Hisense Group for 12.9 billion yen ($114 million) as the cash-strapped Japanese conglomerate continues to shed assets.

The deal, involving 95% of Toshiba Visual Solutions Corp’s shares, is expected to be completed on or after the end of February, Toshiba said in a statement Tuesday.

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