The Meltdown of Toshiba Just Got Much Worst.

Everyone thought we wouldn't ever return to the new plant construction crisis of the 1970s. In those days, the troubles would impair the finances of the utilities or bankrupt them after construction ended. Now we are ripping apart the plant manufacturer midstream before we impair the US utilities. 

Are they pressuring the utilities to phony up more money or we will shutdown US operations...  

Toshiba's loss from U.S. nuclear power business swells to 680 billion yen

January 26, 2017 (Mainichi Japan)

Japanese version

Financially troubled Toshiba Corp. has incurred a loss of around 680 billion yen from its U.S. nuclear power business, the Mainichi Shimbun learned on Jan. 25.

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• 【Related】Embattled Toshiba needs to revamp nuclear plant business due to huge loss

In response to this heavy deficit, Toshiba will hold a board meeting on Jan. 27 -- at which it will determine a plan for breaking off its flagship semiconductor business division, and enlisting external stakeholders -- in an attempt to avoid falling into excessive debt, as of the end of the business year ending March 2017.

Initially, Toshiba anticipated losses of 480 billion yen, but the figure was actually confirmed to be around 200 billion yen higher -- at 680 billion yen -- following an appraisal in the U.S. that was completed last weekend. The main cause for this heavy loss is thought to be the further swelling of costs relating to Toshiba's nuclear power plant construction project in the U.S. Following this revelation, the company explained the situation to its main creditor banks earlier this week, and is planning to publicize details about the loss on Feb. 14. There is still a chance that the final loss figure may fluctuate further.

At the end of September 2016, Toshiba's equity capital was 363.2 billion yen. In autumn 2016, Toshiba anticipated net profits of 145 billion yen as of March 2017, but if the company's loss swells to 680 billion yen, then this will have a detrimental effect on Toshiba's equity capital, potentially resulting in a deficit or excessive debt. Therefore, the company is aiming to secure funds through enlisting external stakeholders for its split-off semiconductor business division, thereby increasing capital...