Faced with the chance that it could face a “multi-billion-dollar writedown that could wipe out its shareholders’ equity,” according to Reuters, Toshiba is running out of ways to fix the problem.
The company is still recovering from the $1.3 billion accounting scandal in 2015, which caused stocks to go down. now it is facing another crippling charge against profits because there are cost overruns at a U.S. nuclear business that they bought.
Toshiba says that they won’t have the final numbers for weeks, but the writedown is expected. They are against a wall because they cannot issue shares because of the restrictions imposed by the stock exchange. It is likely that they will be forced to sell off more assets and stakes. read the rest here