Toshiba to take $6.3 billion hit on United States nuclear unit
00:57, Feb 16, 2017
Copyright 2015 All rights reserved. This material can't be published, transferred, copied or redistributed.
Following close of trading, the company did release unaudited numbers, stating that these projections could change 'by a wide margin.' The company expects a group net loss of 500 billion yen ($4.4 billion) for April-December of previous year, including the 712.5 billion yen hit from its nuclear business.
In April-December 2015, Toshiba reported a 479 billion yen net loss due largely to the disclosure of an embarrassing profit-padding scandal, in which bosses for years systematically pushed subordinates to cover up weak financial results.
The chairman of Toshiba, Shigenori Shiga, also resigned, reportedly to "take responsibility for the losses", according to the Post.
Westinghouse acquired CB&I Stone & Webster, a USA nuclear plant construction firm at the heart of the massive write-down problem, in late 2015. Toshiba explained it received internal information about inadequate governance during the acquisition process of a USA nuclear construction company. The company is also expected to explain the cause of the losses, measures to avoid similar events and plans to rebuild its nuclear business.
Plane hits deer during takeoff in Charlotte, NC
FAA officials say the crew taxied the aircraft off the runway and onto a taxiway to allow passengers to exit. EST, PSA Airline flight 5320 was taking off from the airport when it struck a deer on Runway 36C.
Toshiba is conducting an "additional investigation into the existence of any inappropriate pressure. and on any impact on the financial statement if there was any", the company said.
It also ended 2016 with negative shareholder equity due to the 712.5 billion yen nuclear writedown - a charge that was first flagged in December past year.
There were signs of a turnaround last year, Toshiba reported earnings of 115 billion yen ($977 million) through the first six months of its 2016 financial year.
Shiga, who oversaw the nuclear power operations, will step down from his position as of February 15 and become an executive officer without the right of representation, according to the company.
Japan's nuclear sector was thrown into crisis after multiple meltdowns of reactors at a power plant in Fukushima prefecture triggered by the March 2011 natural disaster and tsunami.
The threat to the industrial giant, which produces a range of products from consumer electronics to nuclear power, casts doubt on the project to build a new nuclear reactor in Moorside, Cumbria.
Toshiba said it would withdraw from nuclear plant construction overseas.
If Toshiba's liabilities exceed its assets at the end of the current fiscal year, it will be demoted to the second section of the Tokyo stock exchange, a move that could make it harder to secure money from banks and other lenders.
UNC Basketball: Theo Pinson To Return vs. Duke
Duke caught fire from behind the arc, making 13-of-27 attempts from deep, while Carolina shot only 4-of-12 from behind the arc. Duke will need Allen to excel as a scorer as well as a playmaker and Jackson to facilitate in order to win over the Tar Heels.
Hirshberg said that he's "never been more excited either creatively or commercially about our three-year Call of Duty slate". Meanwhile, head over to the official Steam page for Infinite Warfare to see what all of the complaints have been about.
As mentioned earlier, this isn't the first time a Cardinals starter has been lost early in the season to a significant injury. The top prospect pitched in 12 games (five starts) in 2016, going 4-1 and registering a 1.57 ERA.
Toomer serves as Girl Scouts Service Unit Administrator for Troop 453, a territory that includes Gretna, Harvey and Terrytown. San Diego Girl Scouts have been donating cookies to troops deployed overseas with "Operation Thin Mint" since 2002.
Over the last three months, LFL food sales increased 0.6% and 2.0% on a total basis, above the 12-month average. The figures were largely driven by slower non-food sales, although spending on groceries held up.
An outbreak at one of its suppliers affected shredded and sliced varieties, including colby, jack and taco cheese. The company also said that it has received no reports of illness associated with the recalled products.
Vetrano's parents spoke out Thursday, trying to renew momentum in the case on the six-month anniversary of the murder. Investigators believe Lewis grabbed Vetrano while she jogged at the park, the television station reports.
Tiffany Trump (centre) sits in the front row for the Philipp Plein Fall/Winter 2017/2018 Women's And Men's Fashion Show in NY . Jeremy Meeks' mugshot went viral in 2014 after he was arrested for possession of firearms and criminal street gang activity.
Workers expanding storage tanks at a busy gas station in Greece made a startling discovery last week: a giant unexploded bomb. The city's main bus station was shut down, trains in the area were halted and churches cancelled their Sunday services.
The trading boom that cushioned the profits of Royal Dutch Shell Plc and BP through the price slump appears to be over. At 1:53 pm GMT, the Comex gold futures contract for February delivery was 0.31% or $3.80 higher at $1,235.90 an ounce.
SNL Takes Donald Trump to The People's Court
The first media outlet to fail the Baldwin-Trump Facial Recognition Test was WJXT, a TV station from Jacksonville, Florida. El Nacional apologised to readers and "anyone affected" and said no one at the newspaper spotted the mistake.
FDA Approves Duchenne Muscular Dystrophy Drug
Another study showed patients who took deflazacort lost the ability to walk later than patients who took placebo. Duchenne Muscular Dystrophy is caused by an absence of a protein that helps keep muscle cells intact.
DNC official sides with protesters who blocked DeVos
DeVos, for all the reasons listed above, provided Democrats the ideal opportunity to take their biggest stand yet against Trump. She faced criticism and ridicule for a perceived lack of experience and confusion during her confirmation hearing.
Mark Warburton's reign as Rangers manager
The club said they had granted the English manager his wish to leave Ibrox, following negotiations with his representatives. But that position changed as Forest handed caretaker Gary Brazil the reins until the end of the season.
Hundreds of whales dead after mass stranding in New Zealand
The whales beached at low tide, three kilometres from where the first group had died Friday. "All we know is it keeps happening". While strandings have occurred before at Farewell Spit, the incident has shocked locals due to its magnitude.
Eugenie Bouchard: Super Bowl tweets lead to date with lucky fan
New England wound up pulling off the greatest comeback in Super Bowl history, stunning Atlanta with a 34-28 victory in overtime. That was just fine, apparently, with Eugenie Bouchard, who took to social media to tout that she "knew Atlanta would win".
Netflix resurrects 'The OA' for season 2
Netflix released season one of " The OA ", comprising eight one-hour episodes, on December 16 with hardly any advance publicity. The OA centers on young Missouri woman Prairie Johnson (Marling) who - missing since age 7 - mysteriously resurfaces.
Letter, 2/6: Demand vote against DeVos
A filibuster attempt was already defeated early Friday morning when the Senate voted 52-48 to move forward with DeVos' final vote. Harry Reid (D-Nev.) opted to change the Senate rules to require only 51 vote to end debate for a confirmation.