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Toshiba says Westinghouse had $9.8 billion in liabilities as of end December
March 29, 2017 / 7:36 AM / 6 months ago

Toshiba says Westinghouse had $9.8 billion in liabilities as of end December

FILE PHOTO - A logo of Toshiba Corp is seen outside an electronics retail store in Tokyo, Japan, February 14, 2017. REUTERS/Toru Hanai/File Photo

TOKYO (Reuters) - Toshiba Corp (6502.T) on Wednesday said its U.S. nuclear unit Westinghouse Electric Co filed for Chapter 11 bankruptcy protection with $9.8 billion (7.9 billion pounds) in liabilities as of the end of December.

The Japanese conglomerate said Westinghouse would be off its consolidated books as of the end of this month.

Toshiba said its own net loss for this fiscal year could reach 1 trillion yen (7.26 billion pounds), versus its previous estimate of 390 billion yen.

Reporting by Makiko Yamazaki and Chris Gallagher; Editing by Himani Sarkar

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