TOKYO, July 22: Japan’s Toshiba Corp., hoping to refocus on mainstay businesses, said on Tuesday it was selling a majority stake in its real estate unit for 80 billion yen to the Nomura group.

Toshiba Corp., a leading maker of consumer electronics and the parent firm of power plant maker Westinghouse, said it was selling 65 per cent of Toshiba Building Co., which constructs and leases buildings.

Nomura Real Estate Holdings Inc., part of the Nomura financial group, will buy the stake by the end of the year, a joint statement said.—AFP