Home Business NewsBusiness Toshiba may sell Westinghouse nuclear business

Toshiba may sell Westinghouse nuclear business

by LLB Reporter
14th Mar 17 9:45 am

Trouble for Toshiba?

Toshiba president Satoshi Tsunakawa has spoken of how the company may sell its stake in the Westinghouse nuclear business.

The firm bought Westinghouse back in 2015 but it has suffered huge cost overruns.

Toshiba has been given permission to delay reporting its earnings for a second time, until the 11 April.

Tsunakawa said: “We are working on nurturing our growth businesses to return to stable growth by fiscal years 2018 and 2019.”

In February, Toshiba’s chairman stepped down. The firm then delayed publishing any results after disagreements with its auditors.

As well as this, last month the company announced a 712.5bn yen ($6.3bn; £5bn) writedown due to some of its US nuclear assets being worth a lot less than previously estimated.

Some analysts have warned that the company’s future may be at risk.

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