TOKYO (Reuters) - Toshiba Corp said on Tuesday the conglomerate was considering to steps to raise capital as it could not rule out that a huge charge to its U.S. nuclear business might wipe out its shareholders' equity.
"We are considering measures including some kind of capital strategy," CEO Satoshi Tsunakawa told a news conference, after Toshiba announced it may have to book several billion dollars in losses related to a U.S. nuclear power acquisition. He did not detail the measures under consideration.
Asked if Toshiba could fall into negative net worth as a result of the charge over the purchase by its Westinghouse unit, Chief Financial Officer Masayoshi Hirata said the company cannot yet estimate the amount of the charge.
(Reporting by Makiko Yamazaki; Writing by William Mallard; Editing by Edwina Gibbs)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of 10 free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹810
1 Year
₹67/Month
Super Saver
₹1,170
2 Years
₹48/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories
Over 30 subscriber-only stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app