Toshiba reviewing new strategic ideas - sources

Toshiba is in talks with at least four global private equity firms as it looks for new strategy ideas.

That's according to sources close to the matter.

The Japanese firm - which has been hit by controversies this year - has reached out to KKR, Blackstone, Bain and Brookfield.

It's not clear whether engaging with buyout firms will lead to formal offers in future.

Toshiba removed its chairman in June after the firm was found to have colluded with the Japanese government to pressure foreign investors.

That led to the company reviewing its current assets.

It also pledged to engage with strategic and financial investors.

Toshiba was subject to a $20 billion takeover bid from CVC Capital partners earlier this year, but the bid was rejected.

Toshiba makes a range of products.

It is still one of Japan's few manufacturers of nuclear reactors and also makes defence equipment.

Any sale of the company would therefore need approval of the Japanese government.

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