Inactive Instrument

Toshiba

Equities

6502

JP3592200004

Toshiba : says Westinghouse had $9.8 billion in liabilities as of end December

March 29, 2017 at 03:46 am EDT

TOKYO (Reuters) - Toshiba Corp on Wednesday said its U.S. nuclear unit Westinghouse Electric Co filed for Chapter 11 bankruptcy protection with $9.8 billion (7.9 billion pounds) in liabilities as of the end of December.

The Japanese conglomerate said Westinghouse would be off its consolidated books as of the end of this month.

Toshiba said its own net loss for this fiscal year could reach 1 trillion yen (7.26 billion pounds), versus its previous estimate of 390 billion yen.

(Reporting by Makiko Yamazaki and Chris Gallagher; Editing by Himani Sarkar)

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Company Profile

Toshiba Corp is a Japan-based company mainly engaged in energy system solutions business and other businesses. The Company operates in six business segments. The Energy System Solutions segment provides thermal power generation systems, nuclear power generation systems and hydroelectric power generation systems. The Infrastructure System Solutions segment provides water and sewage systems, broadcasting systems, radio equipment, environmental systems, road systems, transportation equipment, and battery systems. The Retail & Printing Solutions segment provides point-of-sale (POS) systems, multifunction devices. The Storage & Device Solutions segment provides power devices, small signal devices, optical semiconductors, mixed signal integrated circuits (ICs), hard disk drives (HDDs), semiconductor manufacturing equipment. The Industrial ICT Solutions segment provides information technology (IT) solution services. The Others segment provides logistics services.

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