At the annual meeting, the struggling Japanese electronics and machinery maker will explain its work on compiling the business report for the year that ended in March and progress in the process of selling its flash memory business.

Toshiba plans to report its fiscal 2016 results to its shareholders at an extraordinary meeting to be held later.

The chip business sale is aimed at generating funds for improving the company's financial health, which has been damaged by huge losses from its US nuclear business.

At the June 28 meeting, Toshiba will ask for approval for its plan to split off its energy division, including nuclear business, into a subsidiary.

The company is mulling the move so that its special business license for the construction of power plants and other large facilities can be renewed. The new energy company will be established on Oct. 1.

Toshiba will also seek shareholder approval for the reappointment of its current board members.

Toshiba reiterated that it will continue to work hard with its auditor in order to submit its financial statement, including the fiscal 2016 results, to authorities by the June 30 deadline. (Jiji Press)