TOKYO (Reuters) – Japan’s Toshiba Corp sold $58.5 million worth of shares in Mitsubishi UFJ Financial Group on Wednesday, a source told Reuters, as the conglomerate struggles with losses from its bankrupt U.S. nuclear business.
Toshiba sold 9.9 million shares in banking group Mitsubishi UFJ for 6.4 billion yen ($58.53 million), said the source, who declined to be named due to the sensitivity of the matter.
Toshiba does not disclose information on individual stock trades, a company spokesman told Reuters.
Toshiba is trying to sell its flash memory unit for about $18 billion to cover losses from the bankruptcy, but talks have stalled due to a legal dispute with one of its business partners.
Reporting by Taro Fuse; Writing by Stanley White; Editing by Muralikumar Anantharaman