Toshiba has officially announced the sale of its Toshiba Medical Systems unit to Canon for $6.2 billion. A newspaper from Tokyo reported the news last week, but it had not been confirmed until now.
According to Toshiba’s statement, the two companies continued to negotiate through the week and just concluded their final agreement today. The statement can be read in full on Toshiba’s website. Canon’s statement can be read on its own website.
The sale comes after Toshiba admitted it had overstated its profits by nearly $2 billion over the last seven years, which led to changes in management and more than 100,000 job cuts.
Toshiba also announced that it is selling a majority interest of its home appliance business to Media Group.