Toshiba's Loss from US Nuclear Business May Reach ¥700 Billion (News)


Tokyo, Jan. 19 (Jiji Press)—Toshiba's loss from its nuclear power plant business in the United States may balloon to as much as ¥700 billion, against its earlier estimate of up to ¥500 billion, it was learned Thursday.

Toshiba explained about the possibility in talks with main creditor banks including Sumitomo Mitsui Banking Corp., Mizuho Bank and Sumitomo Mitsui Trust Bank on the day. It then called for their continued assistance, informed sources said.

The troubled Japanese electronics and machinery maker also asked for capital support from the government-affiliated Development Bank of Japan, as the massive loss would inevitably lead to a sharp decrease in its capital.

The DBJ is examining the ideas of investing in Toshiba's semiconductor business and acquiring preferred shares in the company that do not carry voting rights, the sources said.

Within the Japanese government are calls for preventing Toshiba's nuclear technology from leaking out of the country.

Toshiba Asks Banks to Invest in Semiconductor Business

Tokyo, Jan. 20 (Jiji Press)—Toshiba has asked creditor banks to invest in semiconductor operations that it is considering spinning off as part of its turnaround efforts, informed sources said Thursday.

The banks include Sumitomo Mitsui Banking Corp. and the government-backed Development Bank of Japan, the sources said.

[Copyright The Jiji Press, Ltd.]

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