TOKYO -- Toshiba's net worth appears headed for heights not seen since before its current wave of troubles began, as a major asset sale seems likely to materialize in time for the fiscal year's end.
"Prospects are looking bright" for the Japanese industrial conglomerate to sell its equity stake in Westinghouse Electric -- its now-bankrupt U.S. nuclear power unit -- by the end of this month, a Toshiba-affiliated source said at the end of February.
A successful sale could tack another 200 billion yen ($1.88 billion) onto the company's net worth, which Toshiba projected at 460 billion yen for the end of March in third-quarter earnings released Feb. 14. That would bring the shareholder's equity ratio to 16.1% -- close to the 17.1% it had for the year through March 2015, the year before an accounting scandal came to light, inflicting a wound that huge losses at Westinghouse then deepened.