Japanese fund secures 1 tril. yen to buy Toshiba

A Japanese investment fund has secured about 1 trillion yen ($6.8 billion) to buy out Toshiba Corp. and notified the embattled conglomerate that the amount was offered by a group of more than 10 Japanese companies, a source familiar with the matter said Monday.But Japan Industrial Partners Inc. failed to meet Toshiba's request to submit a letter of loan commitments from major banks by Monday, the source said, leaving uncertain whether funds can be guaranteed for the takeover estimated at some 2.2 trillion yen in total.Japan Industrial Partners, which leads a consortium that Toshiba designat…READ FULL ARTICLE