Toshiba's Westinghouse files for bankruptcy

Toshiba's U.S. nuclear subsidiary Westinghouse Electric Co. on Wednesday filed for bankruptcy protection.

Toshiba expects to post a net loss of $9.9 billion for its current fiscal year ending Friday after writing down Westinghouse’s value.

“We have all but completely pulled out of the nuclear business overseas,” Toshiba’s president, Satoshi Tsunakawa, said at a news conference. Of the huge loss, he added, “I feel great responsibility.”

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