Toshiba Corp said on Wednesday it would sell a landmark building in Tokyo's Ginza district for 161 billion yen ($1.4 billion) to Tokyu Land Corp.
The electronics giant said it expected a pretax profit of 130 billion yen from the sale and would book a profit in the October-March second half of the business year.
The Nikkei business daily reported on Tuesday that Toshiba plans to use the proceeds to bolster its growth areas, such as flash memory chips.
To focus on chipmaking, digital electronics and nuclear power systems, Toshiba has sold interests in semiconductor wafers, movie and music software and machine tools, the daily said.
Toshiba said it would sign a transfer agreement on the 73-year-old building in the prestigious shopping district this month and complete the deal by late October.