Mar 30, 2017
Toshiba shareholders angry as chip unit sale approved
The company needs money to plug a gaping hole at its US nuclear unit Westinghouse, which filed for bankruptcy protection on Wednesday. Due to the woes at Westinghouse, Toshiba is struggling with debt that some warn might threaten its future. One investor said management had turned Toshiba "Into a laughing stock". "You have no clue what's going on," the investor added, speaking at a shareholder meeting that approved the sale of Toshiba's NAND flash-memory unit. Toshiba president Satoshi Tsunakawa apologised for the situation.
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