July 21, 2015 / 11:56 PM / 3 years ago

Toshiba sells 4.6 percent stake in Finland's Kone for $946 million

A man walks past a logo of Toshiba Corp at an electronics store in Tokyo July 21, 2015. REUTERS/Thomas Peter

TOKYO (Reuters) - Japan’s Toshiba Corp (6502.T) said on Wednesday it had completed the sale of a 4.6 percent stake in Finnish elevator maker Kone Oyj (KNEBV.HE) for about 864.7 million euros ($945.6 million), just hours after it announced plans for the divestiture.

The Japanese computers-to-nuclear conglomerate said it expects to book a pre-tax profit of about 113 billion yen ($912.5 million) from the sale in the current business year to next March. It has not yet provided earnings guidance for this year.

Toshiba has been unable to close its books for the past business year due to revelations of accounting irregularities, which prompted the chief executives and a string of other senior officials to resign on Tuesday.

Reporting by Chang-Ran Kim; Editing by Richard Pullin

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