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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

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Chairman Shigenori Shiga will step down. In a sign of how bad things are, Toshiba said it is considering selling a majority stake in its memory chip business.

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Chairman Shigenori Shiga (above) will step down. In a sign of how bad things are, Toshiba said it is considering selling a majority stake in its memory chip business.

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.

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