Toshiba survival threatened by huge losses

Japanese conglomerate Toshiba expressed serious doubt that it may continue as a viable entity after taking a $5.9 billion loss during the fourth quarter of 2016.
 
A major component of the conglomerate’s loss was the bankruptcy of its American subsidiary, Westinghouse Electric, after a series of project overruns on nuclear projects in Georgia and South Carolina.
 
Although Toshiba may be able to remove the loss from its books, the move will cost $9 billion. In addition, the conglomerate is selling off its majority share in its computer chip business to help stop the bleeding. Taiwan-based Foxconn, a major chip supplier to Apple, has offered $27 billion to acquire it.
 
If the corporation cannot put its financial house in order, it faces being delisted from the Tokyo Stock Exchange.
 
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