Toshiba said Thursday it will pull out of the music business by
selling its 45-percent stake in Toshiba-EMI Ltd. to the British
partner EMI Group Plc for about 21 billion yen.
The decision reflects Toshiba's strategy to concentrate resources
on its core operations, such as computer chips and nuclear power
The company's music wing, which includes Toshiba-EMI's
predecessor, dates back to 1955. Toshiba expects to complete the
sale by September.
EMI Group proposed earlier this month that it purchase Toshiba's
holding in the joint venture to strengthen Japanese operations.
The British record company is best known for its exclusive rights
to albums of The Beatles.
Toshiba-EMI will retain its name for the time being even after it
becomes EMI Group's wholly owned subsidiary.