TOKYO (Reuters) - Toshiba Corp (6502.T) on Friday said it would book a net profit of 40 billion yen (275.74 million pounds) from the sale of its 60 percent stake in Swiss smart meter maker Landis+Gyr in the year ending March, 2018.
Landis+Gyr shares (LANDI.S) 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