Toshiba to announce business plan on Friday

TOKYO: Japan's Toshiba Corp said it would unveil its business strategy for next fiscal year on Friday in an announcement expected to include plans to sell its medical equipment unit to Canon Inc and boost its finances after a $1.3 billion accounting scandal.

In the wake of a book-keeping scandal in which Toshiba overstated profits from around 2009, Chief Executive Masashi Muromachi has announced more than 10,000 job cuts and plans to sell its loss-making laptops and home appliances businesses.

Toshiba last week said it granted Canon exclusive negotiating rights to buy Toshiba Medical after a hotly contested auction, with a report putting Canon's offer at more than $6 billion.