![]() Toshiba has said it will separate the chip unit by the end of March and hold a shareholders’ meeting that month. The company has previously planned to limit the sale to 20% to maintain control. In a sign of how bad things are, Toshiba said it is considering selling a majority stake in its memory chip business. There is also the question of why the nuclear writedown happened in the first place.” “Investors want to know what will happen to nuclear and chip businesses, whether elevator operations and some of Toshiba’s listed subsidiaries will be sold off. “The questions surrounding Toshiba are so numerous, where do you even begin,” said Masahiko Ishino, an analyst at Tokai Tokyo Securities. Toshiba has put up for sale a significant stake in its flash memory operations and is considering other ways of raising cash. Toshiba is now under pressure to come up with a plan for shoring up its balance sheet, which was already under strain from a profit-padding scandal in 2015 that led to restructuring, record losses and asset sales. That raised questions over whether the Japanese company has control over its finances, and the shares fell to near 38-week lows. The earnings results came after a chaotic afternoon, which began when the company missed its own deadline for announcing earnings. As a result of the losses, shareholder equity will drop to negative 150 billion yen for the current year ending in March, Toshiba forecast. In December, Toshiba had warned the writedown could reach several billion dollars, triggering a share decline that has erased more than $7 billion in market value. 31, the company said in a statement Tuesday. The charge will result in a provisional 500 billion yen loss for the nine months through Dec. Shigenori Shiga will step down as chairman of the conglomerate. ![]() ![]() unit and diminishing prospects for its atomic-energy operations. ![]() (IW 1000/68) says it expects to book a 712.5 billion yen (US$6.3 billion) writedown in its nuclear power business, citing cost overruns at a U.S. ![]()
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