Toshiba Weighs Reducing Elevator Unit Stake as Kone Circles

Toshiba Corp. is considering reducing its stake in its elevator unit amid interest in the business from Finland’s Kone Oyj, people with knowledge of the matter said.

The Japanese conglomerate could make a decision soon about whether to proceed with a divestment of part or all of its roughly 80% stake in Toshiba Elevator & Building Systems Corp., the people said. It may first sell a smaller stake in the elevator business before eventually offloading a larger holding, one of the people said.