TOKYO (Reuters) - Toshiba Corp on Friday said it would book a net profit of 40 billion yen ($357.3 million) from the sale of its 60 percent stake in Swiss smart meter maker Landis+Gyr in the year ending March, 2018.
Landis+Gyr shares will be listed on the SIX Swiss Exchange on Friday. The IPO was triggered after Toshiba signaled earlier this month it wanted to sell its stake in Landis+Gyr to raise cash.
The state-backed Innovation Network Corporation of Japan will also sell its 40 percent stake in Landis+Gyr, Toshiba said.
Reporting by Makiko Yamazaki; Editing by Himani Sarkar