Toshiba, Japan’s largest chipmaker, has mandated Nomura to explore an equity fundraising as it seeks to repair a balance sheet ravaged by a net loss of Y350bn in the year to March 2009.

Two investment bankers said the Japanese broker – which bought the Asian and European assets of Lehman Brothers in September – had been chosen to lead a possible fundraising, but Toshiba said that various options to strengthen its balance sheet were still under consideration.