February 13, 2017 / 5:58 PM / 8 months ago

Toshiba to take $6.3 billion hit on U.S. nuclear unit

TOKYO (Reuters) - Toshiba Corp (6502.T) said on Tuesday it would take a 712.5 billion yen (5.01 billion pounds) writedown on its U.S. nuclear business, wiping out its shareholder equity and dragging the company to a full-year loss.

The logo of Toshiba Corp is seen behind a traffic signal at its headquarters in Tokyo, Japan January 27, 2017. REUTERS/Toru Hanai

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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