Toshiba Shares Plunge Further Over Problems at Nuclear-Power Subsidiary
Japanese conglomerate warns it might take multibillion-dollar write-down stemming from cost overruns at Westinghouse
Toshiba was looking to profit from a global nuclear power revival when it paid $5.4 billion for Westinghouse Electric in 2006. Instead, cost overruns and missed deadlines threaten to sink the Japanese conglomerate. Photo: AP
TOKYO—Toshiba Corp. seemed poised to profit from a global nuclear power revival when it paid $5.4 billion to win a bidding war for Westinghouse Electric Co. in 2006.
Today, that bet threatens to sink the venerable Japanese conglomerate, as cost overruns and missed deadlines on nuclear reactor projects around the world have forced it to warn investors that it may soon have to report billions of dollars in losses.
Toshiba lost a...