Shares of Toshiba tumbled on Wednesday after the electronics conglomerate said it would book a $6.3 billion hit to its U.S. nuclear unit, a write-down of more than shareholder equity with the company looking for finance options.
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. Shares traded down around 10.3 percent in late morning trade.
The company has also launched a probe into whether there was potential inappropriate conduct during its 2015 acquisition of Westinghouse, Nikkei reported.
The developments came to light after Toshiba, due to release its third quarter earnings on Feb. 14, announced that the report has "not yet become available". Reports said the company would meet with bankers on Wednesday for further discussion.