On Sunday, Toshiba announced the decision, which was made by its board.

The firm says the funds raised will help the company improve its financial situation and avoid being delisted from the Tokyo Stock Exchange.

Toshiba has already decided to sell its semiconductor subsidiary in order to settle the company's debts by next March and avoid the delisting.

The board came up with the new share-selling plan because there are concerns that the anti-trust assessment of the chip sale, which is now underway in the relevant countries, may not be completed in time to allow the firm to meet the March deadline.

The sales are expected to increase the volume of the company's shares by 50 percent. This could effectively undermine the current shareholders.

Regarding such concerns, Toshiba says the primary purpose of the investment is not to influence Toshiba's business operations, but rather to make a net profit.

But analysts say they will watch what the investors do with the shares they've acquired.

Toshiba's largest shareholder is Singapore-based Effissimo Capital Management, which was established by former colleagues of Japan's most famous activist investor Yoshiaki Murakami.