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Toshiba to present UNAUDITEDaccounts at the company’s AGM next month

Carlisle News & Star 31st May 2017 Toshiba, the key backer of Cumbria’s proposed nuclear new build, is to present unaudited accounts to its shareholders at the company’s AGM next month. The troubled Japanese giant – which has a 60 per cent stake in NuGen, which has plans for a power plant at Moorside, near Sellafield, and is taking on full ownership – has not been able to submit detailed results to officials in Japan because of ongoing discussions with its auditors over its American nuclear subsidiary Westinghouse Electric.

Toshiba is forecast to make a £6.5bn loss for the last year of business and its woes stem mainly from Westinghouse, which has filed for Chapter 11 bankruptcy in the USA, which may have overpaid – by several billion dollars – for another
nuclear construction and services business.


June 2, 2017 - Posted by | general

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