Toshiba set to propose tie-up with Olympus

CALIFORNIA, USA: Toshiba is set to propose an equity tie-up with scandal-hit camera and medical equipment maker Olympus Corp, an industry newspaper said on Monday.

A maker of everything from nuclear power plants to rice cookers, Toshiba joins a long list of companies including Sony Corp and Fujifilm believed to be interested in an alliance with Olympus, whose endoscope business is highly profitable.

Toshiba is expected to submit a business plan to Olympus's financial advisers, the Nikkan Kogyo newspaper said.