Westinghouse Files for Chapter 11; Progress on Limiting the Extent of Loss for Nuclear Business
Toshiba filed Chapter 11 for its U.S. nuclear subsidiary, Westinghouse on March 29, and Westinghouse will be deconsolidated. In February, Toshiba had announced the estimated impairment loss on its nuclear power business is JPY 712.5 billion, due to the cost overruns for constructing nuclear plants, and as a result, Toshiba’s shareholders’ equity, which was JPY 363.2 billion as of September 2016, is expected to become capital deficit of JPY 150 billion by the end of this fiscal year. In addition,...Toshiba is engaged in the manufacture and sale of electronics and energy products. Along with its affiliates, Co. operates in six business segments: energy systems & solutions, infrastructure systems & solutions, retail & printing solutions, storage & electronic devices solutions, industrial ICT solutions, and others. Co. provides thermal power generation systems, nuclear power generation systems, water supply and sewerage systems, instrumentation and control systems, environmental systems, automatic railroad station equipment, transportation equipment, POS systems, small-signal devices, information technology ("IT") solution services, personal computers, tablets, televisions, and others.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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