Toshiba Pushes Back Withdrawal from U.S. LNG Biz

Economy

Tokyo, April 1 (Jiji Press)--Toshiba Corp. <6502> said Monday that it failed to withdraw from the U.S. liquefied natural gas business within fiscal 2018, which ended on Sunday, as initially planned.

Toshiba now expects to complete the transfer of its interests in the LNG business to China's ENN Ecological Holdings Co. "in April 2019 or shortly thereafter," the major Japanese electronics and plant firm said in a statement.

In February, a Toshiba executive said the U.S. authority's screening of the business transfer plan was suspended by a partial government shutdown.

Toshiba said Monday that it will promptly announce any revisions to its current earnings estimates for fiscal 2018, including a 93-billion-yen loss from the business withdrawal.

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