Toshiba to book 712.5b-yen nuclear writedown
The charge will result in a provisional 500b-yen loss for the nine months to Dec 31
Tokyo
TOSHIBA Corp says it expects to book a 712.5 billion-yen (S$8.9 billion) writedown in its nuclear power business, citing cost overruns at a US unit and diminishing prospects for its atomic-energy operations. Shigenori Shiga will step down as chairman of the conglomerate.
The charge will result in a provisional 500 billion-yen loss for the nine months through Dec 31, the company said in a statement on Tuesday. In December, Toshiba had warned the writedown could reach several billion dollars…
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