Japanese industrial conglomerate Toshiba is investigated by the SEC for hiding 1.3 Bbillion dollars in losses. This deepens a scandal that has pushed the company into an existential crises.
Japanese technology giant Toshiba has filed a lawsuit against US firm Western Digital for obstructing the sale of its computer memory-chip unit. Toshiba executives, meanwhile, faced legions of angry shareholders.
The board of the Japanese conglomerate has approved a Chapter 11 filing for its US nuclear unit Westinghouse Electric, seeking to limit billons of dollars in losses that have plunged Toshiba into crisis.
Shares in Japanese company Toshiba have plummeted on media reports it's likely to suffer a huge special loss related to an asset valuation dispute. The news came amid a large-scale corporate restructuring effort.
Japanese electronics company Toshiba has said it's swung to a profit in its April-June quarter. The earnings report came as the firm kept trying to turn the page on an embarrassing accounting scam.
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