Toshiba says 2016 net loss could reach $9.1bn

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Toshiba has said its net loss for the full year 2016 could reach ¥1.01tn, ($9.1bn) almost triple its previous estimate as it makes provisions for losses in its nuclear business.

In a statement detailing its US nuclear unit Westinghouse had filed for Chapter 11 bankruptcy protection, the Japanese group revised its forecast net loss up from the previously estimate of a ¥390bn loss.

Toshiba is wrestling with a $6.3bn writedown on its US nuclear business, the rising risk of share delisting at home, and a breakup of its businesses that could lead to the sale of its valuable flash memory business.

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