[Alpha Biz= Reporter Kim Jisun] Struggling Japanese conglomerate Toshiba announced on the 25th that it will sell its subsidiary, Toshiba Materials, to Japan Special Ceramics for approximately 150 billion yen (1.3 trillion KRW), according to reports from NHK and Kyodo News.

The deal is expected to close by May 30, 2025.

As part of its restructuring efforts, Toshiba plans to cut up to 4,000 jobs, representing about 6% of its workforce in Japan.

Japan Special Ceramics, a company specializing in engine components such as spark plugs, intends to leverage Toshiba Materials' expertise in materials like ceramics for electric vehicles (EVs) to enhance its business operations, NHK reported.

 

 

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