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Toshiba prepares to unveil nuclear hole, other perils threaten

Toshiba prepares to unveil nuclear hole, other perils threaten


The logo of Toshiba Corp is seen behind trees at its headquarters in TokyoBy Makiko Yamazaki and Taro Fuse TOKYO (Reuters) - Toshiba Corp will on Tuesday detail a writedown of close to $6 billion after bruising cost overruns at its U.S. nuclear arm, turning investor attention to the Japanese group's efforts to fix that and other balance sheet headaches. Sources familiar with the matter say the final charge, to be detailed alongside quarterly earnings, will be as high as 700 billion yen ($6.2 billion), a sum which alone would wipe out the company's shareholder equity. Toshiba, which has seen its market value almost halve since the prospect of a writedown emerged in December, is also expected to outline the prospects for its nuclear arm and update investors on efforts to raise capital, including through the sale of a stake in its flagship memory chips business.


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Tags:   Company Earnings    Toshiba    prepares    unveil    nuclear    hole    other    perils    threaten
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