Toshiba chairman resigns over multi-billion dollar loss
BBC – Toshiba chairman Shigenori Shiga has resigned, hours after the Japanese conglomerate revealed details of a multi-billion dollar loss.
Earlier Toshiba had delayed issuing its results, but it then said it was set to report a net loss of 390bn yen ($3.4bn) in the year to March 2017.
The company said it expected to take a 712.5 billion yen ($6.3bn, £5bn) writedown at its US nuclear business.
The situation has led some analysts to warn the company’s future is at risk.
Mr Shiga was stepping down “to take management responsibility for the loss”, the firm said.
Shares fell by as much as 9% on Tuesday and have lost about 50% since late December, when it first warned about the extent of the problems.
The views expressed in Op-Ed pieces are those of the author and do not purport to reflect the opinions or views of Libyan Express.
How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to oped@libyanexpress.com. Please include ‘Op-Ed’ in the subject line.
How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to oped@libyanexpress.com. Please include ‘Op-Ed’ in the subject line.
Latest posts by Libyan Express (see all)
- Libya Postpones Trial of 56 ISIS Terrorists till Sep - August 09, 2022
- First Ukraine grain ship arrives in Turkey - August 09, 2022
- Finnish PM calls on EU to ban Russian tourism - August 09, 2022