(Reuters) - Toshiba Corp said it is considering various measures in case the $18 billion sale of its chip unit does not close by the end of the financial year and leaves the embattled conglomerate short of funds needed to ensure it stays listed.
The deal needs to close by end-March or Toshiba will likely report negative net worth - where liabilities exceed assets - for a second year running. That could trigger an automatic delisting from the Tokyo Stock Exchange.
"Nothing has been decided, but it's true that we are considering potential measures," CEO Satoshi Tsunakawa said at an extraordinary general meeting where shareholders approved the sale to a consortium led by Bain Capital LP.