11:59 15 March 2017
Video Advisory (March 15) Toshiba eyes Chapter 11 filing by nuclear unit
TOKYO, March 15, Kyodo
The following is the latest available news video.
Toshiba eyes Chapter 11 filing by nuclear unit
-- Toshiba Corp. President Satoshi Tsunakawa told a press conference in Tokyo on March 14, 2017, that a filing for Chapter 11 bankruptcy protection by its loss-making U.S. nuclear unit Westinghouse Electric Co. is an option. Toshiba will sell a majority of shares in Westinghouse in fiscal 2017 to remove the subsidiary from the group's books and limit further losses, effectively pulling the Japanese technology conglomerate out of the overseas nuclear business.
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