Posted on Dec 28, 2016

Writedown fears wipe $5 billion off Toshiba's value as it weighs options

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The US company did such a great job of cooking the books that no one caught it till now: Toshiba said late on Tuesday that cost overruns at a U.S. nuclear business it bought from Chicago Bridge & Iron (CBI.N) last year, CB&I Stone & Webster, meant it could face 'several billion dollars' in charges, acknowledging a bruising overpayment.

Writedown fears wipe $5 billion off Toshiba's value as it weighs options

Posted from mobile.reuters.com

Posted in these groups: Toshiba Economy logo

Economy

Nuclear

Posted 8 y ago

Responses: 1

SGT Cort Landry

Posted 8 y ago

Seems some bean counter wasn't doing their job when it put the stamp of approval on this purchase. As if Toshiba didn't have enough problems from the first "accounting" blunder.

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Writedown fears wipe $5 billion off Toshiba's value as it weighs options

Writedown fears wipe $5 billion off Toshiba's value as it weighs options

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