The NRC should emediately issue a stop work order across Toshiba's US nuclear assets based on the parent corporate inability to keep their nuclear assets their primary focus. The new build is only going decline from here. You catch the massive musical chairs across Toshiba and the nuclear construction corporations in the last few years. The business and corporate climate has become just too chaotic in recent years to maintain quality in their nuclear business.Toshiba puts overseas nuclear operations under reviewToshiba Corp said it will sell a minority stake in its memory chip business as it urgently seeks funds to offset an imminent multi-billion dollar writedown, adding that its overseas nuclear division – the cause of its woes – was now under review.
The drastic measures are set to be just some of the tough choices the Japanese conglomerate will have to take as proceeds from the sale are likely to only cover part of a charge that domestic media has put at $6bn.
Still battered by a 2015 accounting scandal, Toshiba was plunged back into crisis when it emerged late last year that it had to account for huge cost overruns at a US power plant construction business recently acquired by its Westinghouse division.
Describing the nuclear division as no longer a central
business focus for the firm, chief executive Satoshi Tsunakawa said Toshiba will review Westinghouse’s role in new projects and whether it will embark on new power plant construction.
The division will also now fall under direct CEO supervision.
Tsunakawa added Toshiba was looking to sell less than 20% of its memory chip business – the world’s biggest NAND flash memory producer after Samsung Electronics – which comprises the bulk of the conglomerate’s operating profit…