Japan regulator approves Canon deal to buy Toshiba unit, warns on method

Just this once: Japan's anti-monopoly regulator is set to approve Canon Inc's acquisition of Toshiba Corp's medical equipment unit, but the regulator would prohibit further use of the deal's unusual structure. — Reuters

TOKYO: Japan's anti-monopoly regulator has approved Canon Inc's acquisition of Toshiba Corp's medical equipment unit, but issued a warning over the way they carried out the deal, which antitrust experts have called questionable.

Toshiba, hurt by an accounting scandal and in a hurry to raise cash before closing its books for the business year that ended in March, structured the 665.5 billion yen (RM26.02bil) sale in an unorthodox way so that it could book proceeds before securing approval from regulators.