Toshiba chairman quits over nuclear loss

by Dramelin 2:30 AM 0 comments

The company said it expected to take a 712.5 billion yen ($6.3bn, ?5bn) writedown at its US nuclear business. UK nuclear plant in limboAs well as detailing its losses, Toshiba is also widely predicted to announce it is scaling back its global nuclear business - and possibly getting out of the sector altogether, apart from its operations in Japan. Earlier Toshiba had delayed issuing its results, but it then said it was set to report a net loss of 390bn yen ($3.4bn) in the year to March 2017. Image copyright Reuters Image caption Mr Shiga stepped down "to take management responsibility for the loss"Toshiba chairman Shigenori Shiga has resigned, hours after the Japanese conglomerate revealed details of a multi-billion dollar loss. Mr Shiga was stepping down "to take management responsibility for the loss", the firm said.