Japan’s Toshiba Corp said on 14 March 2017 it will speed up looking at whether it should sell a majority of its US-based Westinghouse nuclear power business. Toshiba plans to review the positioning of Westinghouse and “aggressively consider strategic options for it”, the company said in a regulatory filing. It also said it is aiming for an operating profit of around $1.8bn (€1.6bn) in the year starting April 2019 – a target that excludes Westinghouse and Toshiba’s flagship memory chip business which it has put up for sale. Toshiba said last month it expects to book a loss of $6.2bn from Westinghouse in the third quarter of fiscal year 2016. The expected write-down was caused largely by an overestimation of projects at CB&I Stone & Webster, a US construction-service company specialised in nuclear power projects, purchased by Westinghouse in January 2016.
Nucnet 14th March 2017 read more »
Japan Minister agrees to share Toshiba case information with US.
Reuters 16th March 2017 read more »