If Japan’s Toshiba Corp. parts ways with its embattled U.S. nuclear unit, Westinghouse Electric Co., the likely buyer may be a regional neighbor with global ambitions. Westinghouse would be a strategic fit in China or South Korea, which are developing their own reactors for export, according to analysts and academics. The region is also home to about half the world’s nuclear units under construction, while China is forecast to have the largest fleet fleet of reactors by the middle of next decade. Toshiba, which is suffering from a 712.5 billion yen ($6.2 billion) writedown on its nuclear division and selling assets to stabilize its balance sheet, has said it will consider selling Westinghouse to the right partner. The Tokyo-based electronics maker has a deadline of Tuesday to release results for the period ended Dec. 31.
Bloomberg 13th March 2017 read more »
Toshiba Corp Chief Executive Satoshi Tsunakawa said on Tuesday he expected the company’s U.S. nuclear unit Westinghouse to attract interest from potential buyers given its stable fuel and services business. Speaking at a news conference, Tsunakawa sidestepped questions over whether a Chapter 11 filing for Westinghouse was a possibility, saying there were “various options” for the unit. Toshiba said earlier it would speed up looking at whether to sell a majority of Westinghouse, which has become the epicentre of Toshiba’s latest crisis and an expected $6.3 billion writedown.
Reuters 14th March 2017 read more »
Japan’s Toshiba failed to submit audited third-quarter earnings for a second time on Tuesday, gaining a one month extension as its expands a probe into problems at its U.S. nuclear unit Westinghouse. With its financial woes only deepening, Toshiba said it would speed up looking at whether to sell a majority of Westinghouse even as it sought to reassure investors it could have a future without the unit or its prized memory chip business which has been put up for sale.
Fortune 14th March 2017 read more »