![]() The company hopes to fix that by the end of March by selling its flash-memory business and other assets. Toshiba said its net worth was in the negative, at minus191 billion yen (USD 1.7 billion) by the end of last year. The company said Shigenori Shiga, the chairman, will step down from the board, effective Wednesday, but stay on as a Toshiba executive. ![]() That sent Toshiba stock tumbling 8 percent in Tokyo trading.Īfter the market closed, it released unaudited numbers, warning they may change "by a wide margin." He bowed deeply at a news conference to apologize for "troubling investors and stakeholders".Įarlier Tuesday, Toshiba delayed reporting its official financial results by a month, citing auditing problems. President Satoshi Tsunakawa said the company also was looking for potential partners to acquire a stake in Westinghouse. The company also said it will not take on new projects to construct nuclear plants. The company projected a 712.5 billion yen (Rs 43,000 cr) loss for its nuclear business related to the acquisition of CB&I Stone & Webster by its US nuclear unit Westinghouse. Follow us on Toshiba named Shigenori Shiga CEO to steer co clear of an accounting scandalĬhairman of Japanese conglomerate Toshiba Corp., the organization that has seen a tumultuous past few years, resigned Tuesday after the company logged such massive losses in its nuclear business that it must sell its lucrative computer-chip business to avoid going bankrupt.
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