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Toshiba wants to write down its stake in Westinghouse

Japanese Toshiba Corporation is currently in the process of preparation to write down the total value of its stake in American nuclear subsidiary Westinghouse by approximately 200 billion Japanese yen or simply $1.83 billion. It has been recently reported by some sources already familiar with this company’s move. 

On Wednesday, the company’s committee is going to have a meeting with the only purpose to officially approve the resignation of Masashi Muromachi, the chief executive, according to one of the reputable sources. However, these sources requested anonymity due to the lack of authorization to speak with media.

By the way, last month Toshiba told that it was busy with conducting a promising long-awaited stress test in order to figure out whether it would require writing down its nuclear business or not.

Apart from that, on Wednesday, Toshiba added that the company hadn’t finalized the results from this test yet. Moreover, the company also refused to comment on the possible resignation of Muromachi.   

 

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