Mar 14, 2017
Toshiba shares slide on renewed earnings delay
Toshiba expects a 712.5bn yen writedown, due to some of its US nuclear assets being worth a lot less than previously estimated. Failure to obtain that will mean Toshiba has to submit earnings by 27 March or face delisting from the stock exchange. While often still associated with its technology products, Toshiba has become a diverse conglomerate. Toshiba had initially alerted investors in December 2016 that it faced a heavy one-off loss linked to a deal done by its US nuclear subsidiary, Westinghouse Electric. Since the 16 December announcement, Toshiba shares have lost more than half of their value.
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