Toshiba unveils tie-up with Korea's Unison

Toshiba Corp. has signed a memorandum of understanding to form a business tie-up with South Korean wind-power generation equipment maker Unison Co.

The Japanese company said it will buy Y3 billion of Unison's convertible bonds, which would give Toshiba a stake totaling roughly one-third of Unison's outstanding shares, if fully converted into common shares in the future.

The tie-up will allow Toshiba to sell Unison's products, which Toshiba considers have potential for future growth as demand for renewable energy expands.