Toshiba was gutted by a corporate fraud scandle where managers were encouraged to boost sales to make the company look like it was doing better than it was.  Now, having to find more than a billion dollars to cover the faulty reporting and to restructure so that it is nto making a loss, Toshiba is looking to merge its white goods segment with its counterpart at Sharp or another Japanese home electronics manufacturer.

Support would come from the industry ministry and public-private investment fund, the Innovation Network  of Japan which is a government fund.  Money might also be used to help the outfit restructure its nuclear power business as the manufacturer hopes to find a partner for boiling-water reactors.

INCJ has also been looking to inject funds into Sharp and was pursuing a broader restructuring of the troubled firm including a possible merger with Toshiba's consumer electronics arm.