Toshiba chairman quits over $3.4bn loss

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.

WOW!

 

BBC

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