Japan's leading industrial electronics manufacturer and builder of nuclear reactors Toshiba Corp. is planning to cut down its stake in U.S. nuclear power unit Westinghouse.

The company is in talks with six different groups for the sale of up to 36 percent of its stake in the nuclear unit. Reports say the Japanese company is moving in this direction to somewhat ease its tight cash flow situation. Toshiba acquired entities like Swiss firm Landis+Gyr that exerted considerable pressure on its cash flow.

In a recent interview, Toshiba CEO Norio Sasaki said talks are on for the stake sale but did not share any specific information on how much Toshiba might make from the sale. Reports point out that the company is also influenced by Japan's move to limit nuclear energy expansion following the Fukushima radiation crisis in 2011. For the record, Toshiba had partnered with engineering firm IHI Corp to buy Westinghouse for $5.4 billion in 2006.

According to Sasaki, Louisiana-based Shaw Group Inc. will sell back to Toshiba 20 percent of Westinghouse for $1.6 billion in January 2013. US-based Chicago Bridge and Iron Company NV are likely to buy that tranche of Westinghouse but formal negotiations will not start until CB&I completes its planned acquisition of Shaw.

Sasaki said Toshiba is also negotiating with three other parties to sell an additional 16 percent of Westinghouse. Most of the offers for the 20 percent stake have reportedly come from US companies.

The newly elected Japanese Prime Minister Shinzo Abe indicated he may allow utilities to build nuclear-power plants if they meet safety standards to be set by the Nuclear Regulation Authority.

"The energy policy should be part of the country's growth strategy, and nuclear power should be one of the options," Sasaki said.

Meanwhile, Toshiba is competing with French nuclear firm Areva SA on a bid for the Fennovoima nuclear power project in Pyhajoki, Finland. But Sasaki said he has not received any such request from Fennovoima.