Japan trade min says not considering Toshiba rescue plan


Japan's minister for economy, trade and industry, Hiroshige Seko, said on Friday a rescue plan for embattled conglomerate Toshiba Corp <6502.T> was not under consideration at his ministry.

Seko told reporters after a cabinet meeting that he would closely monitor the steps taken by Toshiba's management.

Continue Reading Below

Toshiba is under pressure to come up with cash as it faces a bigger-than-expected writedown for its U.S. nuclear business that local media have said could come in at $6 billion.

(Reporting by Ami Miyazaki; Editing by Himani Sarkar)