JAPAN’s Toshiba Corp (6502.T) is considering a large writedown for its Westinghouse nuclear power unit, a newspaper report said on Friday, while the company confirmed that the United States authorities are probing accounting at its US units.
Reuters reported that the developments cast a shadow over Toshiba’s efforts to draw a line under last year’s $1.3 billion accounting scandal by streamlining its bloated businesses, whose poor performances had been masked by years of false bookkeeping.
The Asahi newspaper reported that Toshiba is considering a 200 billion yen ($1.8 billion) writedown for Westinghouse, reviving concerns among investors that the value of assets and goodwill related to Westinghouse were overstated.
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Nuclear power has become less popular since Toshiba’s acquisition in 2006, especially in the aftermath of the Fukushima disaster which prompted many countries to freeze nuclear energy expansion plans.
