After a day of delays and confusion, Japan's Toshiba said on Tuesday it would book a $6.3 billion hit to its U.S. nuclear unit, a writedown that wipes out its shareholder equity and leaves the loss-making group scrambling for capital.
Highlighting the scale of its financial concerns, Toshiba also ramped up plans to raise cash, announcing it would consider selling most, even all, of its stake in its prized flash-memory chips business, plus its troubled nuclear business Westinghouse.
Toshiba had previously yielded only to selling just under 20 percent of the NAND memory unit, which makes chips for mobiles and tablets and is its most valuable business.
"We are considering various offers for the chips business and we will act flexibly - even if that means giving up a majority of the unit," Chief Executive Satoshi Tsunakawa said.
Earlier on Tuesday, the battered conglomerate rattled investors by failing to release its earnings on schedule, saying initially it was 'not ready' and then announcing later it needed more time to probe its Westinghouse nuclear business after internal reports had uncovered potential problems.
The figures eventually released were numbers that have yet to be approved by its auditor and Toshiba cautioned investors that a major revision was possible. Fully audited numbers are now not due till March 14, after the firm was granted a reprieve for its formal filing by Japanese regulators.