Japan’s Toshiba Corp. has asked regulators to allow it to delay the release of its earnings, including a writedown on its U.S. nuclear business, while it probes internal controls at its Westinghouse units.
According to Reuters, Toshiba said in a statement Tuesday morning that it needs to look at allegations that Westinghouse’s management exerted inappropriate pressure over the calculation of assets and liabilities for the nuclear construction company it bought from Chicago Bridge & Iron.
Toshiba was due to announce quarterly earnings today but now says it wants an extension, which if approved would extend the deadline to March 14.
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Toshiba also announced today that its chairman would resign.
This comes as the company was expected to announce more than $6 billion in write offs and withdraw from the business of building nuclear power plants…but instead asked to delay the release of its earnings.
Toshiba is the parent company of Butler County-based Westinghouse Electric. If Toshiba does exit the nuclear construction business, it’s unclear how that would affect employment at Westinghouse.
The company employs 12,000 worldwide, including approximately 4,500 in the Pittsburgh region. The Westinghouse World Headquarters is in Cranberry Township.
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