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Toshiba shares slide 10 percent after $6.3 billion writedown | Reuters

TOKYO Shares of Toshiba Corp (6502.T) tumbled 10 percent on Wednesday morning after the electronics conglomerate said it would book a $6.3 billion hit to its U.S. nuclear unit, a writedown that wipes out its shareholder equity.Highlighting the scale of its financial concerns, Toshiba also ramped up plans to raise cash, announcing it would consider selling most, even all, of its stake in its prized flash-memory chips business.

(Reporting by Taiga Uranaka; Editing by Edwina Gibbs)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Feb 15, 2017 06:30 AM

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