Toshiba Corp. may post a loss of some 100 billion yen ($851 million) for the year through March in connection with its nuclear plant business in the United States, sources familiar with the matter said Tuesday. The company, which is battling to overcome a massive window-dressing scandal, expects the amount of the full-year loss could grow, the sources said. The loss is likely to be posted after a review of asset values in CB&I Stone & Webster Inc., a nuclear plant builder Toshiba bought in December 2015, the sources said. In a statement released Tuesday, Toshiba said that it is considering booking an impairment loss stemming from a markdown in the value of the U.S. unit. The company said it will hold a board meeting Tuesday to discuss the matter and details will be released after the meeting if necessary. Toshiba has been in a dispute with Chicago Bridge & Iron Co. N.V., which sold CB&I Stone & Webster to the Japanese company, over the difference in their valuations of the unit’s assets and business.
Mainichi 27th Dec 2016 read more »