Japan: Toshiba chairman steps down over huge loses

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Toshiba said Tuesday its chairman Shigenori Shiga was stepping down from his post as the company warned it was set to book multi-billion-dollar losses in its US nuclear business.

Hours after delaying the release of its financial results, the company issued a forecast that said it was on track to report a net loss of 390 billion yen ($3.4 billion) in the current fiscal year to March, with losses in its atomic division topping 700 billion yen.

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About Mohamed Jeelle 87 Articles
The Author is the editor of Mareeg English Department in Somalia