February 14, 2017 / 8:48 AM / in 8 months

Toshiba to take $6.3 billion hit on U.S. nuclear unit, chairman to step down

The logo of Toshiba Corp is seen as Window cleaners work on the company's headquarters in Tokyo, Japan, February 14, 2017. REUTERS/Toru Hanai

TOKYO (Reuters) - Toshiba Corp said on Tuesday it would take a 712.5 billion yen ($6.28 billion) writedown on its U.S. nuclear business, wiping out its shareholder equity and dragging the company to a full-year loss.

The company estimated a 390 billion yen ($3.44 billion) net loss for the year ending March 31, compared with a 460 billion yen loss a year earlier, following a 2015 accounting scandal.

The results have yet to be approved by the company’s auditor and have been released as guidance, Toshiba said.

The company also announced that Chairman Shigenori Shiga would step down.

($1 = 113.5000 yen)

Reporting by Tim Kelly; Editing by Clara Ferreira-Marques

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