Toshiba has sold its stake in Finish firm Kone in a bid to bolster its books amid the recent accounting scandal.

The Japanese conglomerate said it had sold its 4.6% stake in the elevator maker for €864.7m ($946.2m; £607.6m).

Toshiba says the sale is to 'improve the balance sheets'

The deal comes a day after Toshiba's president resigned amid an accounting scandal regarding overstated profits.

In a statement, the firm said the sale would help "efficient use of the company group assets" and "improve its balance sheets".

On Tuesday, chief executive and president Hisao Tanaka and vice-chairman Norio Sasaki both stepped down after an independent panel found the firm had overstated its operating profit by a total of 151.8bn yen ($1.22bn, £780m) over a six-year period from 2008.

The overstatement was roughly triple an initial estimate by Toshiba.

(Source: BBC)