Toshiba to take $6.3 billion hit on US nuclear unit

Toshiba Corp said on Tuesday it would take a 712.5 billion yen ($6.28 billion) writedown on its US nuclear business, wiping out its shareholder equity and dragging the company to a full-year loss.

The company estimated a 390 billion yen ($3.44 billion) net loss for the year ending March 31, compared with a 460 billion yen loss a year earlier, following a 2015 accounting scandal.

The results have yet to be approved by the company's auditor and have been released as guidance, Toshiba said.

The company also announced that Chairman Shigenori Shiga would step down.