November 25, 2015 / 10:55 AM / 2 years ago

Toshiba to brief on Westinghouse impairment charges on Friday

TOKYO (Reuters) - Toshiba Corp will brief analysts on Friday on impairment changes at its U.S. nuclear power unit Westinghouse.

The logo of Toshiba Corp is seen at its headquarters in Tokyo, Japan, November 6, 2015. REUTERS/Yuya Shino

Chief Executive Masashi Muromachi and Westinghouse chief Danny Roderick will both attend the briefing, Toshiba said.

The conglomerate this month reported that Westinghouse had booked charges of $930 million in fiscal 2012 and $390 million in fiscal 2013 as the Fukushima disaster reduced demand for new nuclear power plants.

That increased speculation long held by analysts that the value of assets and goodwill related to Toshiba’s 87 percent stake in the nuclear unit has been overstated.

Reporting by Makiko Yamazaki; editing by Jason Neely

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