Toshiba Chairman Quits After Company Takes $6 Billion Nuclear Hit

Tokyo: After a day of delays and confusion, Japan's Toshiba Corp said on Tuesday it expected to book a $6.3 billion hit to its US nuclear unit, a writedown that wipes out its shareholder equity and will drag the group to a full-year loss.

Hours earlier on Tuesday, the battered conglomerate rattled investors by failing to release its earnings on schedule, saying initially it was 'not ready' and then announcing



later it needed more time to probe its Westinghouse nuclear business after internal reports uncovered potential problems.

The figures eventually released were numbers that have yet to be approved by its auditor and Toshiba cautioned investors that a major revision was possible. Fully audited numbers are now not due till March 14 after the firm was granted a reprieve for its formal filing by Japanese regulators.