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.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!