Toshiba Shares Fall After Earnings Delay, Possible Nuclear Sale
- The company to reevaluate the U.S. nuclear unit’s position
- Release of final third-quarter earnings delayed until April 11
The Toshiba Corp. logo is displayed atop the company's headquarters in Tokyo, Japan, on Monday, August 31, 2015.
Photographer: Akio Kon/BloombergThis article is for subscribers only.
Toshiba Corp.’s shares fell in Tokyo after the company delayed its earnings announcement for the second time, as challenges with its nuclear unit could lead to a wider restructuring of its business.
The stock dropped as much as 8.1 percent to 198.5 yen on Wednesday. The Tokyo-based conglomerate said Tuesday that it’s reevaluating Westinghouse’s position within the group and it may deconsolidate the nuclear unit by selling a controlling equity stake. Toshiba made the announcement as it gained approval to delay the release of third-quarter earnings until April 11.