Toshiba will on Tuesday detail a write-down of close to $6 billion after bruising cost overruns at its U.S. nuclear arm, turning investor attention to the Japanese group's efforts to fix that and other balance sheet headaches.
The TVs-to-construction conglomerate warned of a potential multi-billion dollar nuclear write-down in December, a year after a $1.3 billion accounting scandal.
Sources familiar with the matter say the final charge, to be detailed alongside quarterly earnings, will be as high as 700 billion yen ($6.2 billion), a sum which alone would wipe out the company's shareholder equity.
Toshiba, which has seen its market value almost halve since the prospect of a write-down emerged in December, is also expected to outline the prospects for its nuclear arm and update investors on efforts to raise capital, including through the sale of a stake in its flagship memory chips business. read the rest here