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  1. Toshiba sees loss of about 100 bln yen on US nuclear power acquisition: Nikkei

Toshiba sees loss of about 100 bln yen on US nuclear power acquisition: Nikkei

Electronics giant Toshiba Corp expects to report a one-off loss of about 100 billion yen ($850 million) on a U.S. nuclear power acquisition made by its Westinghouse operation last year, the Nikkei business daily reported.

By: | Published: December 27, 2016 4:08 AM
Toshiba has forecast full year net profit at about 145 billion yen this year. (Reuters) Toshiba has forecast full year net profit at about 145 billion yen this year. (Reuters)

Electronics giant Toshiba Corp expects to report a one-off loss of about 100 billion yen ($850 million) on a U.S. nuclear power acquisition made by its Westinghouse operation last year, the Nikkei business daily reported.

Toshiba did not immediately reply to a request from Reuters for comment. The loss relates to the acquisition of Chicago Bridge & Iron’s (CB&I) nuclear business unit in October last year. CB&I and Westinghouse are involved in litigation over the calculation of working capital in the deal.

Toshiba has forecast full year net profit at about 145 billion yen this year.

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