02-14-2017, 08:47 PM
Toshiba, one of Japan’s most storied companies, is in serious trouble. The company was supposed to report its quarterly earnings on the Tokyo Stock Exchange today, but it never showed up. Instead, it said it wasn’t ready and begged for another month to file.
It then got worse, as the Washington Post reports. The company ended up admitting that it take a $6.3 billion write down related to an acquisition made by its subsidiary, Westinghouse. The chairman of Toshiba, Shigenori Shiga, also resigned, reportedly to “take responsibility for the losses,” according to the Post.
http://gizmodo.com/toshiba-is-6-3-billio...1792342910
It then got worse, as the Washington Post reports. The company ended up admitting that it take a $6.3 billion write down related to an acquisition made by its subsidiary, Westinghouse. The chairman of Toshiba, Shigenori Shiga, also resigned, reportedly to “take responsibility for the losses,” according to the Post.
http://gizmodo.com/toshiba-is-6-3-billio...1792342910