TOSHIBA: ‘GOING CONCERN’ WARNING
February 13th, 2017Via: Bloomberg:
Toshiba Corp. shares fell as much as 3.1 percent after the Nikkei newspaper said the company will warn that it may not be able to continue as a going concern when it reports earnings later on Tuesday.
Toshiba is getting ready to announce a writedown of as much as 700 billion yen ($6.1 billion) in its nuclear power business due to cost overruns at a U.S. unit and diminishing prospects for its atomic-energy operations. Toshiba will report a net loss in the high 400 billion yen range for the nine-month period, which will probably wipe out shareholder equity, the Japanese newspaper reported.
